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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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Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
Wednesday, 21 October 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In today’s dry bulk market, both freight rates and asset prices are creating mixed feelings to seasoned ship owners, who tend to instinctivel ...
Wednesday, 21 October 15
INDONESIAN COAL MINER BUKIT ASAM POSTS POSITIVE PERFORMANCE DURING FIRST THREE QUARTERS OF 2015
COALspot.com: Indonesian publicly listed and state controlled coal miner PT. Bukit Asam has announced that, the company’s coal sales up 8 per ...
Wednesday, 21 October 15
LOWER DEMAND HIT Q1' 16 INDONESIA COAL SWAPS
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 1.88 (-4.71%) per t ...
Tuesday, 20 October 15
SHIPBROKER SEES CAPESIZE RATES EASILY REACHING $25,000/DAY BY YEAR-END : NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future course of the dry bulk market has been troubling market participants for quite some time now, as the “elusive” freight rate ...
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- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
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