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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, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
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- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Minerals Council of Australia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
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