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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, 08 September 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO SHOW DECLINING TREND
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$ ...
Tuesday, 08 September 15
GANGAVARAM PORT IN INDIA DISCHARGES RECORD 112,599 MT OF STEAM COAL IN 24 HOURS
COALspot.com: Gangavaram Port, an all weather, multipurpose port with water depth up-to 21 meters, capable of handling fully laden Super Cap ...
Monday, 07 September 15
THE MINE OF THE FUTURE WILL HAVE ONLY TWO EMPLOYEES, A MAN AND A DOG - SCOTT MCGOWAN
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Scott Mcgowan, Director, Global ...
Monday, 07 September 15
FOB NEWCASTLE COAL SWAP FOR Q2' 16 DELIVERY CLOSED US CENTS 25 LOWER COMPARED TO Q4' 15
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.73 per MT (-1.68%) month over month to US$ 42.65 per mt. The sw ...
Monday, 07 September 15
CFR SOUTH CHINA COAL SWAPS ROSE 1.1 PER CENT WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.52 (3 %) per MT month over month.
A commodity sw ...
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Showing 2826 to 2830 news of total 6871 |
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- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
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