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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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Sunday, 06 September 15
AUTOMATION AND TECHNOLOGY IS CERTAINLY PART OF THE SOLUTION FOR IMPROVING PERFORMANCE AND EFFICIENCY TO MAKE THE MINE OPERATIONS MORE PROFITABLE, HOWEVER............ - LUKE JALSEVAC
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Luke Jalsevac, Director, Busines ...
Sunday, 06 September 15
THE CAPE SIZE INDEX ROSE 10.83 PER CENT WEEK OVER WEEK
COALspot.com: The BDI, the Baltic exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, declined o ...
Saturday, 05 September 15
DRY BULK MARKET MAY SUFFER NOW, BUT IS BOUND FOR A RECOVERY THANKS TO A LIMITED FUTURE FLEET GROWTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The slow increase of dry bulk tonnage growth this year could turn into a solid indicator of the market’s future prospects. According to a rec ...
Friday, 04 September 15
U.S. COAL PRODUCTION FOR THE W/E AUGUST 29, UP SLIGHTLY; FALL 4.5 PERCENT Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.7 million shor ...
Friday, 04 September 15
GOVERNORS WILL HAVE THE POWER TO REVOKE MINERS' PERMITS: ENERGY MINISTRY - JG
Starting Oct. 1, Indonesia's governors will lawfully become "executors" in revoking the licenses of miners that fail to secure a &quo ...
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- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
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