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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, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
Wednesday, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
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- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Australian Coal Association
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
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