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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, 24 July 15
U.S PRODUCED 17.2 MMST OF COAL FOR THE WEEK ENDED JULY 18; FELL 11.5% YEAR ON YEAR
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.2 million shor ...
Friday, 24 July 15
THE IMPACT OF COLLAPSING CHINESE COAL IMPORTS - CLARKSONS
Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The dr ...
Thursday, 23 July 15
ELEVEN NEW NICKEL SMELTERS ARE TO BE BUILT IN INDONESIA OVER THE NEXT TWO YEARS AT A COST OF $1.4 BILLION
Indonesia’s Most Reputable Nickel Event
Eleven new nickel smelters are to be built in Indonesia over the next two years at a cost of $1. ...
Thursday, 23 July 15
THE CAPESIZE SEGMENT KEPT FOUNDING SUPPORT ON INCREASED DEMAND FROM CHINESE STEEL MILLS - INTERMODAL
The Dry Bulk market closed off on Friday (17July 2015) noting substantial gains and the BDI surpassing the 1,000 points level for the first time af ...
Wednesday, 22 July 15
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS | INTERMODAL
In both bulk shipping sectors, there are certain, yet different, reasons and strategies to invest. In the wet, buy once you can charter-out long, w ...
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- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
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