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Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
 Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk market during this year had not given us already enough reasons to sweat.
So far in the year 234 second hand transactions on the bulk side and 113 transactions on the wet have been reported. This shows a correlation between market confidence and opportunity recognition. To be more specific there is a lack of confidence on the wet side and a clear acknowledgment of investment opportunities on the dry side despite of the dismal earnings.
Literally every bulk carrier that enters the market gets sold as long as it is built post 1997. There were particular buying patterns along the past five months. At certain times Capes were the crowd’s favorites, while during other times Handysize vessels were being sold faster than freshly baked cupcakes.
Buyers’ preference shifted from size to size. Bigger ships attracted buyers willing to take a much more substantial risk, as subsidizing their respective vessel/s for a longer period of time appeared to be a greater possibility compared to what it would be having bought a smaller vessel that was usually preferred by investors taking a more modest approach.
Clearly the scale tips towards the geared ships when it comes to total sales. But we can see that when the BDI was at its lowest level there was a lot more activity in the Capesize segment compared to the months that the BDI started correcting upwards. At the same time Supramaxes remained popular throughout all these months and demand for Handysize vessels was also more or less steady. It is interesting to see that Panamax/Kamsarmax sale candidates started seeing a rise in interest during March and April, about the same time the dry bulk index started to rise.
So what can we make out of this? Even though assumptions are often proven wrong in this market, one could say that buyers seem willing to bet big when they believe that the absolute market bottom has been reached and that psychology is at its worse. The steady preference on smaller ships like Supramaxes and Handies could also be perceived as a sign that buyers expect these to be the first ships to enjoy an improved market. The sudden increase in Panamax/Kamsarmax purchases right after the BDI started to rise could be interpreted as a rush to acquire tonnage before asset values move up.
Let’s see how the summer months progress and how investors will react during the remainder of 2016, a year that admittedly kicked off with the worse possible signs.
By Timos Papadimitriou
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The 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, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
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