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Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
 Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest maritime event worldwide. The evolution of the event that takes place every two years is massive both in terms of quality as well as in terms of visitors, while the number of exhibitors keeps growing at an impressive rate despite the overall challenging times a number of maritime sectors are currently going through. As expected most discussions focused on expectations in regards to the dry bulk market recovery and of course the stabilization of tanker earnings.
During the second half of Q2 dry bulk prices corrected upwards roughly 15% when compared to the lows – record in many cases - witnessed at end of Q1. The small increase in earnings as well as buying interest from those that rushed to acquire extremely attractive priced tonnage before prices improved, supported this correction, which was considered by many excessive relative to the improvement in the freight market, while the rise in asset prices was also fueled by the small number of vessels available for sale. The deals below are evidence of this asset prices firming trend.
On the other hand, the increased supply of tankers candidates in the second-hand market on the back of depressed demand has further pushed downwards asset prices that were already negatively affected by rates declining since the beginning of the year.
The paradox when looking at both sectors is that the second-hand market is not aligned with the respective freight market. Despite the fact that tanker rates are still healthy - despite the significant correction - this is a buyer’s market, while over at the dry bulk side, where rates are still around OPEX levels, Sellers seem to be the ones in control. Is there something to be inferred by this paradox?
I will leave this to the reader’s judgement.
By Konstantinos Kontomichis
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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- The University of Queensland
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
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