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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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Monday, 17 August 15
CFR SOUTH CHINA COAL SWAPS CONTINUE TO HEAD SOUTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 40 (1.05%) per MT month over month.
A commodi ...
Sunday, 16 August 15
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO STEADY NEXT WEEK
COALspot.com: The BDI softened 12.08 per cent to 1055 points this week due to weakening of cape index which was fell 25 per cent week over week to ...
Friday, 14 August 15
FOB INDONESIA COAL SWAP SHOWING NO MOVEMENT THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Friday, 14 August 15
U.S. COAL PRODUCTION UP 2.9 PER CENT THIS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.2 million shor ...
Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
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- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Minerals Council of Australia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
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