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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, 04 September 15
GOVERNORS WILL HAVE THE POWER TO REVOKE MINERS' PERMITS: ENERGY MINISTRY - JG
Starting Oct. 1, Indonesia's governors will lawfully become "executors" in revoking the licenses of miners that fail to secure a &quo ...
Thursday, 03 September 15
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE HBA METHODOLOGY
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) in process to revise Indonesian Coal Price Reference (HBA) and expected to complete b ...
Thursday, 03 September 15
THE CHINESE STOCK MARKET AND THE CHINESE ECONOMY CONTINUE TO SUBSTANTIALLY AFFECT TRADING - INTERMODAL
The last week of the summer season saw the BDI dipping further on the back of another significant drop in rates for Capes, which brought the market ...
Wednesday, 02 September 15
PORT OF NEWCASTLE SHIPPED 13.46 MMT OF COAL IN JULY; UP 0.66 PER CENT M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.224 billi ...
Tuesday, 01 September 15
FOB INDONESIA COAL SWAPS FURTHER SLIDE TO US$ 40.62 PMT; DECLINE 5.34 PERCENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and slightly dropped week over week.
The 4Q swap was declined ...
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- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
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