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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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Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
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Showing 2451 to 2455 news of total 6871 |
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- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
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