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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, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
Monday, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
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- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
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