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Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
 Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers reported are close to last done levels and despite the pressure in the beginning of the month, the spot market also seems to be resisting a further drop during the past week. All this has helped S&P activity to stay rather strong during a time when Buyers traditionally remain on the sidelines.
But even if 2018 ends up being a good year overall for the dry bulk market or even better than 2017; how long can this last?
Don't get me wrong, I am not expecting a collapse or a blood bath. After the lengthy period during which the massive orderbook had been casting a shadow over earnings and chocking any efforts for recovery, the market seems to have finally started reaching a balance and by this I mean that we are finally heading towards a cyclical behavior of transparent highs and lows.
Now in regards to the duration of those ups and downs, this is yet to be seen but nonetheless a more predictable or at least foreseeable market is something that ship owners, charterers and yards would love to experience again after many years of uncertainty.
We have witnessed rather short cycles in the tanker market with highs and lows being fully developed in a span of 34-44 months. But as far as tankers are concerned, we have also seen a solid differentiation between the crude and product market. It is not wrong to even talk about two different markets instead of unifying them under a single tanker market.
The shorter cycles have caused shrinkage of the duration of any windows for buying low or selling high. It is not unreasonable to expect that the dry bulk market will eventually start to show similar patterns if the aforementioned balance occurs.
It is hard to say if any specific dry bulk size segments that are highly dependable on very specific/limited number of cargoes will form sub-markets that will affect respectively asset values independently from the course of the sector as a whole as it has been the case for tankers. For example product cargo vessels have retained a more stable residual value (especially in the case of assets younger than 11 years) compared the crude carrying ships whose values appeared to be way more volatile.
But this it not the main concern or question of this insight. The main point is that a return to a more cyclical market will indeed require better reflexes on behalf of investors when it comes to placing money into either second hand or newbuilding assets.
This will put pressure to investors to have cash or finance easily accessible when opportunities arise. How will this influence the overall ship-owing land scape is yet to be seen. All of the above is pure speculation. For what is worth, we might be in the doorstep of another super cycle that will last more than 4 years. Time will tell.
By Timos Papadimitriou
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, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
Saturday, 24 February 18
CHINA BECOMES WORLD'S SECOND LARGEST LNG IMPORTER, BEHIND JAPAN - EIA
China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS ...
Friday, 23 February 18
ESTIMATED U.S. WEEKLY COAL PRODUCTION UP 2.8 PER CENT W/E 17 FEB' 18 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tons ...
Thursday, 22 February 18
WHY THE COMMODITY RALLY WILL GET BACK ON TRACK - SIMON FLOWERS
Implications for the US dollar and producers
Are we in the early stages of a sustained rise in commodity prices? And what does it mean for the ...
Thursday, 22 February 18
PANAMAX: IT HAS BEEN A SLOW AND UNEVENTFUL WEEK - FEARNLEYS
Supramax
Slight improvement from Atlantic with more hope for upcoming weeks. More grain cargoes from Black Sea made fhaul rates better again $17- ...
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Showing 1796 to 1800 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
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