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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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Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
Monday, 09 November 15
INDIAN THERMAL COAL IMPORTS SURGED 18%; COKING COAL 6.31% DURING APRIL-OCTOBER: BUSINESS-STANDARD
Indian thermal coal imports surged 18% at the country's top 12 major ports to 55.90 million tonnes (MT) in the first seven months of the curren ...
Sunday, 08 November 15
THE FREIGHT MARKET KEEP DROPPING THIS WEEK - VISTAAR
COALspot.com: The freight market keep dropping this week.
The BDI down 12.48 percent week on week and closed at 631 points on 6 November 2015. ...
Sunday, 08 November 15
CAPESIZE FREIGHT RATES IN AUSTRALIA-CHINA ROUTES OVER 50% CHEAPER THAN BRAZIL-CHINA ROUTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s mining and steel industries are facing tectonic shifts over the past couple of years, with the country’s limiting of coal use, ...
Friday, 06 November 15
COAL PRODUCTION IN THE U.S. FELL SHARPLY FOR THE WEEK ENDING OCTOBER 31
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
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- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Minerals Council of Australia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
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