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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, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
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Showing 2806 to 2810 news of total 6871 |
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- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
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