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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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Monday, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
...
Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
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- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- VISA Power Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
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