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Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and to take care of some business — namely signal the transition to the 2020 Summer Olympics in Japan. The theme was “Brazilians can do with their bare hands,” a nod to the emerging economy of the world’s fifth most-populous nation, whilst the world now turns their attention to the world’s third-largest economy, Japan, which most certainly can do it by using robots...However, at a time that Japan is facing unprecedented levels of budget deficit, plans for bold stimulus packages raise further concerns. Japan’s top government spokesmen have in the recent past ruled out the issuance of deficit bonds to fund an economic stimulus package planned for the autumn, hinting at the use of construction bonds for longer-term investments. Let’s hope that shipping, which is an important pillar of the Japanese sourcing capacity receives the support it deserves in the process.
Meanwhile, one of the most paradoxical summers in terms of snp activity is coming to an end, further underlining the illiquidity of the tanker sector and the lack of interest for the container and offshore segments.
Given the lack of finance during all shipping recessions, the redeeming feature of the idiosyncratic shipping investment model is the opportunity it presents during times of high volatility; i.e. based on the basic capital asset pricing (CAP) model used by most investment analysts, which equates volatility with risk, it is this volatility (high risk) and low returns that distinguishes shipping from other investments. In other words, given the lack of finance, it is at times of collapsing earnings that market pundits should recognize the asset value opportunities and move accordingly.
This summer’s paradox on the other hand means that the number of sales in the tanker sector –especially the crude- which has suffered a tremendous blow in earnings is attracting scarce buying interest, whereas the dry bulk sector is finding a strong footing both in healthy volumes of deals transacted and in asset values which are steadily going up despite a rather “zero sum game” earnings timeline. The reasons for such behavior are multiple but recognizing the trend itself is sufficient to make it worth keeping a closer look at any pattern/reaction forming in the near future.
By George Dermatis
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, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
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Showing 16 to 20 news of total 6846 |
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- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Planning Commission, India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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