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