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Wednesday, 21 June 17
MARKET INSIGHT - SHIPPING
 Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating that this long awaited improvement was on the back of steadily improving fundamentals and that going forward the extensive volatility of the previous years would most probably wane.
They would also argue that following the very few newbuilding orders and deliveries together with the extensive scrapping that took place last year, the market was also finding support on the increase of commodity prices such as that of iron ore which from the low $US40/t at the end of 2015 reached a high of $US80/t in March 2017.
Having all the above in mind and with the exception of very few people that were reservedly optimistic, expectations for the rest of 2017 and for 2018 were ranging from positive to very bullish especially since the BDI managed to surpass 1,300 points at the end of March, when in the middle of February the index was at 600 points.
The substantial increase in earnings, very quickly fed through to asset values as well, igniting buying interest and ultimately sending prices in the second-hand market way up. A representative example is a 2001 built Panamax that invited inspections with price ideas at low $5.0m and was finally sold in mid-March at $6.7m, while if the seller was not so keen to sell the sale price would have easily been even more expensive. The aggressiveness of Buyers was even more evident on modern vessels, with high competition among those inspecting sending prices through the roof.
Looking at today’s market though, it appears that the advance of the market might have not been based on improving fundamentals after all. Indeed, during the past weeks the market has corrected downwards across all sizes and the BDI has settled in the mid-800 points for quite a while now. Despite the correction in earnings though and the subsequent drop in buying interest, second-hand prices have not dropped significantly and are still way above January levels.
The performance of the freight market during the summer season is obviously going to shape the fate of the second-hand market and more specifically the course of asset prices. We are already witnessing a number of vessels being withdrawn from the market, which means that most owners do not want to offer their vessels amidst the current softening environment which will, more probable than not, get them substantially lower offers compared to their ideas. The fact that these potential Sellers are now moving back to the sidelines is definitely going to offer second-hand prices some support, given of course that the BDI will stop dropping.
Therefore we will have to wait and see the direction in which freight rates and dry bulk indices will move during the span of the next weeks in order to better assess where second-hand values are going next as this rather uncertain market always creates second thoughts to potential investors.
By George Iliopoulos
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.
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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Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Planning Commission, India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
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