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Wednesday, 02 September 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
 In the beginning of the summer period SnP activity was firm with numerous buyers, coming mainly from Greece and the Far East, inspecting ships and competing, something that eventually drove asset prices up along together with the rise in the freight market.
Many ship-owners believed, and some of them still do, that maybe this upward movement in rates was the beginning of better days for the market that had remained stacked for a prolonged period of time at extremely low levels.
As owners observed more cargos becoming available and charterers paying more to fix dry bulk tonnage, sentiment changed and morale overall improved, leading even those owners that refrained from SnP activity for over a year, to step off the sidelines and start exploring buying opportunities. So up until the end of July we saw a significant rise in interest for dry bulk second-hand tonnage and more specifically Panamax and Capesize vessels.
Unfortunately, this interest stalled and on top of that rates started to decline on the back of bad news coming from the Chinese stock market and the local economy, which have more or less affected the markets worldwide, pushing down further commodity prices as well.
But, has China’s crisis affected shipowners buying appetite? After studying recent records of SnP activity we could argue that buying interest remains overall firm, something that can be also deducted from the number of buyers inspecting modern and older vessels that are available for sale.
Essentially, China’s economic turmoil has mostly affected the levels that buyers are willing to offer and not the interest to buy per se. In fact, we observe that for a number of sale candidates out there, five to ten buyers have expressed their interest, a sign that interest remains firm despite the negative correction in freights and worries from the Far East. For example the “TENNEI MARU” (58kdwt, blt 09 China) was inspected by ten parties, the “OCEAN CHIE” (52kdwt, blt 03 Japan) by seven, while the “RONDEAU” (76kdwt, blt 06 Japan) attracted the interest of five or six prospective buyers.
Hence, we could say that even though the market was definitely affected by China’s recent crisis, many Greek and other owners keep their eyes wide open and are ready to make their move feeling that it is probably the right moment to do so. This in itself reflects the fact that many owners indeed perceive current asset prices as low and attractive and additionally that there is some optimism still surrounding the future of the Dry Bulk market.
It is, as always, of great interest to see how the SnP and Freight markets will behave in the last quarter of 2015, as throughout this year prices have been moving lower and lower compared to 2014, and numerous transactions took place, involving both traditional players as well as fairly young medium-sized firms.
Finally, let us hope that soon we will see some positive changes and robust growth in the world economy something that will help our industry advance and find its way out of the crisis that has been dominating post 2008.
By George Iliopoulos
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
Tuesday, 22 September 15
1Q16 FOB INDONESIA COAL SWAP DECLINED 6.49 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 2.29 (-5.42%) per t ...
Tuesday, 22 September 15
FOB RICHARDS BAY COAL SWAPS FALL CONTINUES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Monday, 21 September 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED HIGHER THAN Q2' 16 SWAP
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery increased $0.43 per ton (1.01%) month over month to US$ 42.95 per ton. The ...
Monday, 21 September 15
CFR SOUTH CHINA COAL SWAP GAINED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 0.45 (0.90 %) per ton month over month.
A commodit ...
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- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Economic Council, Georgia
- The University of Queensland
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
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