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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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Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
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$ ...
Tuesday, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
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- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
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