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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, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
Monday, 17 August 15
INDONESIAN THERMAL COAL REFERENCE PRICE HITS RECORD LOW AGAIN!
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.14 per MT fo ...
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- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
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