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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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Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
Wednesday, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
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Showing 2821 to 2825 news of total 6871 |
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- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Australian Coal Association
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Indian Energy Exchange, India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- PTC India Limited - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
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