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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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Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
Monday, 13 July 15
THE DRY BULK MARKET CLOSED ON A POSITIVE TONE THIS PAST WEEK
COALspot.com: Despite Greece crisis and turmoil in the stock market across the world , the freight market overall was firm and up in all segments t ...
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Showing 2926 to 2930 news of total 6871 |
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- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- The University of Queensland
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
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