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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, 28 July 15
INDONESIA DELAYS PLAN TO RAISE COAL ROYALTIES AMID PLUNGING PRICE - JP
The government will postpone a plan to increase royalty payments from coal miners as they are already burdened with the commodity’s plunging ...
Tuesday, 28 July 15
API 5 FOB NEWCASTLE COAL SWAP LOST M-M AND GAINED W-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.15 per MT (-2.51%) month over month to US$ 44.62 per mt. The swap ...
Monday, 27 July 15
KOMIPO INVITES BIDS FOR TOTAL 545,000 MT OF COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase total 545,000 Metric Tons (MT) of coal ...
Monday, 27 July 15
CFR SOUTH CHINA COAL SWAP WEAK M/M; FIRM W/W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.92 (1.77%) per MT month over month.
A commodity swap ...
Sunday, 26 July 15
INDO-INDIA OCEAN COAL FREIGHT RATES REMAIN STEADY
COALspot.com: The freight market continued lost steam towards end of the week and all indices were showing downward trend.
The BDI was up by 3 ...
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Showing 2901 to 2905 news of total 6871 |
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- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Australian Coal Association
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Eastern Energy - Thailand
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
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