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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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Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
Friday, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
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Showing 2616 to 2620 news of total 6871 |
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- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
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