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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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Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
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$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
Wednesday, 12 August 15
FOB NEWCASTLE COAL SWAP FLAT WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 0.98 per MT (-2.20%) month over month to US$ 43.65 per mt. The swap ...
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- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
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- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
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- Australian Coal Association
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- PowerSource Philippines DevCo
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- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
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- IEA Clean Coal Centre - UK
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- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
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- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
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- Banpu Public Company Limited - Thailand
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- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- White Energy Company Limited
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
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