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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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Tuesday, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
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Showing 2816 to 2820 news of total 6871 |
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- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
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