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Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
 If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial indicators, then stock markets across the world have been set to disappoint you this year.
China’s stock market is leading the way, having lost about 20% of its value since December; a free fall that was suspended only after automatic procedures that halted any transactions came into effect. Even though some analysts have blamed structural particularities of the Chinese stock market itself for the magnitude of this sharp fall, no one should rule out the fact that beyond structural problems and non-efficiencies, the downward move could very well be the long-overdue bursting of the Chinese stock bubble.
The same negative course, during the first days of the year, was followed by the rest of the stock markets in the United States and in Europe. In particular, both the NASDAQ and the Dow Jones indices are facing their worst month during the last seven years. Energy stocks like BP or Exxon are under severe pressure, impacted by falling oil prices that are now below $30/barrel for the first time after more than 13 years and with numerous market experts believing that it may even fall below $20/barrel in the next months.
If this wasn’t enough, Iran, having been out of the market for ten years is about to add its own oil production to the global supply; a fact that will exert further pressure on prices. This is expected to generate additional stress on the rest of the oil producing countries.
Besides Iran, whose economy is expected to undergo a major boom, tanker owners are among the few winners of the aforementioned developments. Tanker rates remain at very satisfactory levels, although owners are cautious on whether rates can be sustained at these levels or if they will experience a downward correction during 2016. Last week’s sharp fall in the crude carriers market acted as a definite reminder of how volatility, which hasn't been experienced much on the tanker side since the end of 2014, can quickly result in profits evaporating and further added to owners concerns for this year. This is already being observed in the second hand market where owners are developing modern vessels for sale, particularly MRs, something that could possibly lead to a short term oversupply of sale candidates and drive prices south depending of course on whether owners are actually willing to sell or if they are just testing the market.
At the same time, the dry bulk market is still struggling, with consecutive historical lows marked last week again. This has significantly affected market sentiment and it has now become a widespread opinion that 2016 will mark the absolute bottom. A point of optimism is the fact that big players that abstained from the dry bulk investments for a while, like East Med or Anangel, are now stepping off the sidelines and doing so by investing mostly on larger vessels like Capes, these being currently sold at the highest discount in the second hand market.
In this rather unstable environment and on the background of an explosive geopolitical environment one thing remains certain and this is that the shipping industry is facing one of the most challenging and interesting times in its history.
Besides the “January effect” there is also the “January barometer” hypothesis, which states that the first month of the year sets the tone for the entire year. From our side, let us just hope that this will not be the case for 2016.
By Nasos Soulakis
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, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
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Showing 2611 to 2615 news of total 6871 |
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- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
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