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Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
 As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and maybe come out of its lethargy. Instead, the BDI moved below the 1,000 unit mark, a level which has been the psychological market barrier for the past couple of years, and started drawing up a completely different picture for dry bulkers compared to the one we see on the wet side and more specifically the crude sector, said Panos Makrinos, SnP Broker of Intermodal.
The broker further said, dry bulk asset prices keep dropping, expectations look dimmer by the day and new building prices are probably the only indicator in the sector still displaying some sort of resistance refusing to adjust accordingly to this new reality. In addition to the current order book, Vale seems to have finally cracked the "code" for entering its gigantic ships to the Chinese shores and the fate of coal exports to China are currently a big question mark following the new standards set by the government there. Optimism for a stronger Q4 has given its way to panic about next year's outlook and in many cases it feels like we are once again being overrun by sentiment. What's there to look forward to?
According to Intermodal, sale and purchase activity has been at healthy levels and -despite the large number of candidates- the market has remained highly liquid with a wide range of buyers for all sizes and age groups. Demo prices are very strong and activity is finally picking up to reflect the rising need for tonnage exiting the market. Prices for prompt re-sales are in par with new building prices after a long time and vessels being delivered now have little or zero differences from the designs that yards are marketing for construction. These facts along with the rising finance gap that has been widening throughout the year as private equity started to distance itself from shipping should provide enough disincentives for new orders going forward. Isn’t this the perfect storm that counter-cyclical investors are looking for?
Commenting on tankers, Intermodal said, on the other side of the fence, tankers are displaying a much rosier picture. The M/T Ariadni (166,000dwt - blt 2009) is being reported sold for a very solid USD 56.5m and analysts are becoming increasingly optimistic about the outlook of the crude market, commenting on the low order book and rising demand for higher ton-mile cargo movements. Sale and purchase activity is steadily rising and asset values across all sizes are beating last done values every time. The New building market is also experiencing this euphoria with prices picking up at least 5% within weeks, completing an image very different to the one during the first quarter of the year.
What has changed? Are we going to shoot ourselves in the foot once again? Hopefully market pundits will understand that this long-awaited improvement has been achieved due to the entire sector patiently and painfully working towards a healthier equilibrium and we will avoid making the “recent” mistakes of other sectors...
Compiled by:
Intermodal Research & Valuations
Analysts:
Mr. George Lazaridis
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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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Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
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- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
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