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Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hopeful for Dry Bulk owners. Following several months of rates barely above or even below OPEX, bulk carriers started to enjoy better rates sometime in the beginning of July. In the 3rd quarter, charterers became admittedly more active, absorbed more units and provided healthier rates. Consequently, higher returns started covering operational costs and gave a huge relief to managing companies that in their majority were counting losses for a long period of time, during which the S&P market aligned with the freight market.
In February the modern Kamsarmax M/V Flora Island (Abt 81k dwt 2012 Blt Korea) was sold at $18.4 mill. Later in June, the M/V Miraero Brave (Abt 81k dwt 2012 Blt Korea) was sold at a shade lower, $17.8 mill, obviously due to the negative pressure exerted on rates at the time. However in July the BDI started correcting upward and the similar vessel M/V Asita Sun (Abt 81k dwt 2012 Blt Korea) was been fixed at $20.2 mill, followed by its near sister vessel M/V Pinchat (Abt 81k dwt 2012 Blt Korea), the sale of which took place in August at $21.5 mill.
During the last few weeks, market sentiment is changing over again with the BDI now moving well below the 1,000 point threshold. Is it only a matter of time before asset prices follow along? During 2015 so far the index fell to 509 points and bounced back to 1222 points in August. Yet, even within this volatile environment the price of a 2012 Kamsarmax vessel increased by 16%. Today the BDI is approaching 800 points.
Financial instabilities that prevail in the majority of the developed countries together with the macroeconomic troubles that the rest of developing economies are facing, has resulted in the weakening of global trade that is severely affecting the Dry Bulk market. The future remains unsure. The constant growth in production of commodities is not only ensuring ample supply but also attractive prices. As demand growth for some of these commodities is faltering due to slower global economic growth, concerns that tonnage supply, despite all the scrapping, might still be too much in the medium term, remain present.
While waiting for a definitive market recovery, these ups and downs at the bottom of the shipping cycle create great short-term buying opportunities. When someone who is deciding which sector to invest in, is thinking about the condition of the global economy, the “ocean” might still be one of the safer ones out there.
By Konstantinos Kontomichis
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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
Sunday, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
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- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
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