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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, 21 July 15
CHINA'S ENERGY COMMODITY IMPORTS DIVERGING - RICHARD SCOTT | HELLENIC SHIPPING NEWS
Energy commodity imports into China have grown enormously over the past decade, boosting global demand for shipping capacity. But a dramatic change ...
Tuesday, 21 July 15
FOB INDONESIA COAL SWAPS EXTEND LOSS
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week. The swaps was lost 0.70%.
...
Tuesday, 21 July 15
Q4'15 FOB RBCT COAL SWAP DECLINES NEARLY 3.13 PER CENT MONTH OVER MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Monday, 20 July 15
FOB NEWCASTLE COAL SWAP SEE FURTHER DECLINES
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.32 per MT (-2.89%) month over month to US$ 44.43 per mt. The swap ...
Monday, 20 July 15
CFR SOUTH CHINA COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.18 (2.27%) per MT month over month.
A commodity swap ...
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Showing 2911 to 2915 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Petron Corporation, Philippines
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