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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, 05 November 15
Q2'16 INDO THERMAL COAL SWAP CONTRACT FOB INDONESIA FALLS TO $39.90/T
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week. Price of coal seen no improvements this past we ...
Thursday, 05 November 15
INFORMATION EXCHANGE GROUP'S LATAM MINING SECURITY SUMMIT 2016 - INTERNATIONAL CONFERENCE ON TECHNOLOGY SECURITY IN MINING
Press Release: LATAM Mining Security Summit 2016 is a carefully designed event that will bring together the leading stakeholders in the mining sect ...
Wednesday, 04 November 15
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
Four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies con ...
Wednesday, 04 November 15
FOB RICHARDS BAY COAL SWAPS GAIN W-W AND M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and month over month.
The Q4 swap was up US$ 1.4 ...
Tuesday, 03 November 15
THE DISCHARGE OF CARGO IN THE PRC WITHOUT ORIGINAL BILLS OF LADING - CLYDE&CO
KNOWLEDGE TO ELEVATE
On occasions, a vessel may arrive at a port and be ready to discharge but the original bills of lading in respect of the ...
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- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- ASAPP Information Group - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- PTC India Limited - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
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