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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, 11 August 15
GLOBAL PRODUCTION OF CRUDE STEEL REACHED A NEW ALL-TIME HIGH OF 1,661M TONNES IN 2014 - VDKI
COALpot.com: Global production of crude steel reached a new all-time high of 1,661m tonnes in 2014, said German Coal Importer Association, in its l ...
Tuesday, 11 August 15
2016 CFR S.CHINA COAL SWAPS CLOSED SLIGHTLY HIGHER THAN 4Q 2015 CLOSING PRICES; BUT NOT SIGNIFICANT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 10 (0.20%) per MT month over month.
A commodi ...
Monday, 10 August 15
SOUTH KOREAN UTILITY KOMIPO INVITES BITUMINOUS COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 560,000 Metric Tons (MT) of 4,600kcal/kg NAR c ...
Sunday, 09 August 15
THE PANAMAX MARKET HAS REMAINED WEAK THIS WEEK
COALspot.com: The freight market continued to be buoyant with cape index pushing the BDI.
The BDI was up 10.49% and closed at 1200 points on 7 ...
Friday, 07 August 15
COAL PRICE DEVELOPMENTS CAN ONLY BE DESCRIBED, SUCCINCTLY AS "OVERSUPPLY MEETS SUBDUED DEMAND" - VDKI
Coal Outlook 2015 – International
Regarding the outlook for global coal trading, two questions arise: firstly, “ whether the years of ...
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- Chamber of Mines of South Africa
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
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