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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.
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Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
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