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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.
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Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur cont ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
Tuesday, 21 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
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- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
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