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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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Friday, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pr ...
Friday, 13 November 15
DRY BULK, IT IS HARD TO MAINTAIN AN OPTIMISTIC VIEW FOR THE NEXT COUPLE OF MONTHS - INTERMODAL
COALspot.com: The dry bulk owners looking for cover remained under pressure for size segments across the board. With Capes closing off the week as ...
Friday, 13 November 15
WEEKLY US COAL PRODUCTION DECLINES TO 16.5 MMST; SLIDE 14.9% Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Thursday, 12 November 15
FOREIGN COAL MINE ACQUISITION - STRATEGY VERSUS OPPORTUNITY FOR INDIAN UTILITIES - DIPESH DIPU
The acquisition market for thermal coal assets abroad is dull. Sellers of all hues are in the market; some are actively scouting for buyers while o ...
Thursday, 12 November 15
PORT OF NEWCASTLE'S COAL EXPORT VOLUME UP IN OCTOBER 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.254 billio ...
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Showing 2716 to 2720 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- White Energy Company Limited
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Planning Commission, India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
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