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Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
 Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the upcoming weeks. Generally, healthier freight rates have given a boost in sales, and from the beginning of the year 36 SnP deals are being fixed on average per week, with the majority of those being Bulk Carriers. In relation to the Capesize segment, the chart below compares the same dry indices of the last 8 years versus the underlying asset prices.
It has become apparent that potential buyers can purchase a cape at fairly good levels compared to previous years when the BCI was stayed the same levels, hence so far so good!
However, as iron ore is the main cargo for Capesize vessels, it is interesting to examine how the commodity has performed from the beginning of the year and what are the forecasts for 2017.
Almost all commodities from the beginning of the year are on the high side with Iron Ore and other industrial metals being the prime gainers. The trade surplus is increasing and is on a positive trend, after the previous bad year. To put things into perspective, from December 2016 iron ore has made a full U-turn from the previous year’s devastating losses and has hit $US90/t, with Iron Ore prices doubling from the December 2014 prices, driven by the strong Chinese iron ore demand, which in turn has driven Cape rates above $12,000 per day. However, after a long rally in Iron Ore prices, there are signs of a reversal of the recent trend. Since Tuesday (7/03/2017), Iron Ore prices have continuously declined, raising concerns from many market analysts about the sustainability of a long-term upward trend. The main reason behind this decline is the flagging strength of demand in China at a time when iron ore stocks are continually rising. As a result, some analysts predict that the Iron Ore price will again fall to $US50/t by the end of the year. But can a ship-owner hedge against this risk?
To conclude, the Dry market is witnessing a positive market trend, yet analysts are prepared for the worst. In the wet market, it will be interesting to see the market reaction after the recent drop in crude oil prices below $50/bl.
This is on the back of record U.S. inventories that have now completely wiped off the boost on prices that the OPEC production cut had caused.
By George Panagopoulos
Research Analyst
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
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- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
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