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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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Thursday, 19 November 15
CHINA STEEL PRODUCTION CAPACITY TO PEAK IN 2016 - FITCH RATINGS
COALspot.com: Fitch Ratings today says that China's steel production capacity is likely to peak in 2016, with capacity elimination over the nex ...
Thursday, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
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Showing 2706 to 2710 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Economic Council, Georgia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
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