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Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
 Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the beginning of the process for the country's exit from the European Union. Despite the fact that the medium and long term effects of this historical decision are hard to assess at the moment, the shockwaves from Thursday's result were felt by nearly everyone in the investing community. Wiped out stock values, a plunge in oil prices and of course a shaky sterling were some of the immediate referendum effects, while the shipping industry, already fundamentally challenged in many ways is still trying to figure out what to expect by this new development. Brexit will introduce a new reality for the British people that will bring along massive challenges for the country's economy but will also result in a stronger effort by the Britons in order to become more competitive, with newly formed or altered trade agreements with other countries that are bound to impact the shipping industry as well.
Either or we will have to wait much longer to fully see the impact of this rather unexpected divorce between Britain and the E.U. on our industry, while the fact that all dry bulk indices, opposite to most global market indices, rose on Friday, is strong evidence of how hard this correlation is at the moment. If anything buying interest for bulkers appears to be unaffected for now. Kamsarmaxes, Panamaxes and Supramaxes built during the last decade are currently the most popular, with Japanese built tonnage naturally gathering most inspections. Despite the undoubtedly firm activity though, there is still a lot of insecurity among owners who remain sceptic in regards to how long it will take before a meaningful recovery takes place. As for those owners who are currently contemplating to buy, this feeling of insecurity is additionally also fed by the recent firming of prices which definitely makes the decision to invest costlier and consequently riskier. Saying that and despite this recent firming in dry bulk asset values, prices are still low. Last week we saw the M/V KEY BOUNDARY (83kdwt, blt 2010, Sanoyas) being committed in the region of USD 13.7m, while about a year ago a similar vessel was marketed at around $ 21.5m.
As far as tankers are concerned, the second hand market still remains on a downward path. The M/T SIGNAL MAYA (46kdwt, blt 2005, Naikai Zosen) was sold in the region of $ 15.5m and the M/T STAVANGER EAGLE (45kdwt, blt 2004, Shin Kurushima) was sold in the region of $ 16.0m. Owners' ideas for ten year old vessels were in the high $ 18.0m some time ago but have now come down to $ 16.0m and it looks very possible that they will keep going lower. As far as bigger vessels are concerned things are similar, the M/T E ELEPHANT (317kdwt, blt 2011, Hyundai) which was sold in the region of $ 55.6m, while the similar vessel M/T HANJIN RAS TANURA (309kdwt, blt 2011, Hyundai) was sold in the region of $ 75.0m back in February.
As a general observation, we are seeing two broad categories of buyers. Big shipowners who have been inspecting, offering -even low - and end up buying. These owners believe that this is the right time to renew their fleet and hope to also benefit from the eventual recovery of the market, which will result in the increase in value of an asset bought at low levels that should compensate them for the time they will have to financially support their investment. On the other hand, there are these owners who keep inspecting but do not offer, waiting to do so only when a clear sign of recovery is visible even if this means that they will have to face higher asset values when the time comes. Either or we don’t see the Brexit seriously affecting the logic of any of these two categories of Buyers for now.
By Giannis Andritsopoulos
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, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- The University of Queensland
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
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