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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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Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
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- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- White Energy Company Limited
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- The University of Queensland
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