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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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Sunday, 19 July 15
BDI GAINED AND CROSSED 1000 MARK THIS WEEK
COALspot.com: The BDI gained and crossed 1000 mark after many months this Friday. The BDI was up almost 20 pct and closed 1048 points on 17 July 20 ...
Saturday, 18 July 15
INTERVIEW : FRANZ ESCALANTE, CHIEF OF INFORMATION SYSTEMS, MINERA CHINALCO, PERU
We are interested in the technology of Autonomous trucks, the new-generation trucks are not remote controlled, they are truly autonomous - Franz Es ...
Friday, 17 July 15
COAL PRODUCTION IN THE U.S. INCREASES SHARPLY FOR THE WEEK ENDING JULY 11
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.4 million short ...
Friday, 17 July 15
INDONESIAN POWER-STATION COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Friday, 17 July 15
DO CANCELLATION RIGHTS UNDER VOYAGE CHARTERPARTY SURVIVE RE-NOMINATION OF LOAD PORT? - INCE&CO
KNOWLEDGE TO ELEVATE
Do cancellation rights under voyage charterparty survive re-nomination of load port?
St Shipping & Transport Inc ...
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- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- The Treasury - Australian Government
- CNBM International Corporation - China
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
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