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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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Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
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Showing 1821 to 1825 news of total 6871 |
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- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
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