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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, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
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Showing 2811 to 2815 news of total 6871 |
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- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- White Energy Company Limited
- London Commodity Brokers - England
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
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