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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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Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
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