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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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Friday, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germ ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
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