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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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Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
COALspot.com: The BDI continued to soften and was down 5.78 pct and falls back below 1000 points this week.
The cape Index lost 17.25 per cent ...
Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.3 million shor ...
Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB ...
Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
Wednesday, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Planning Commission, India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
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