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Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
 Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk market during this year had not given us already enough reasons to sweat.
So far in the year 234 second hand transactions on the bulk side and 113 transactions on the wet have been reported. This shows a correlation between market confidence and opportunity recognition. To be more specific there is a lack of confidence on the wet side and a clear acknowledgment of investment opportunities on the dry side despite of the dismal earnings.
Literally every bulk carrier that enters the market gets sold as long as it is built post 1997. There were particular buying patterns along the past five months. At certain times Capes were the crowd’s favorites, while during other times Handysize vessels were being sold faster than freshly baked cupcakes.
Buyers’ preference shifted from size to size. Bigger ships attracted buyers willing to take a much more substantial risk, as subsidizing their respective vessel/s for a longer period of time appeared to be a greater possibility compared to what it would be having bought a smaller vessel that was usually preferred by investors taking a more modest approach.
Clearly the scale tips towards the geared ships when it comes to total sales. But we can see that when the BDI was at its lowest level there was a lot more activity in the Capesize segment compared to the months that the BDI started correcting upwards. At the same time Supramaxes remained popular throughout all these months and demand for Handysize vessels was also more or less steady. It is interesting to see that Panamax/Kamsarmax sale candidates started seeing a rise in interest during March and April, about the same time the dry bulk index started to rise.
So what can we make out of this? Even though assumptions are often proven wrong in this market, one could say that buyers seem willing to bet big when they believe that the absolute market bottom has been reached and that psychology is at its worse. The steady preference on smaller ships like Supramaxes and Handies could also be perceived as a sign that buyers expect these to be the first ships to enjoy an improved market. The sudden increase in Panamax/Kamsarmax purchases right after the BDI started to rise could be interpreted as a rush to acquire tonnage before asset values move up.
Let’s see how the summer months progress and how investors will react during the remainder of 2016, a year that admittedly kicked off with the worse possible signs.
By Timos Papadimitriou
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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Showing 2421 to 2425 news of total 6871 |
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- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
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