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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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Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
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- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Australian Coal Association
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- PTC India Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
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