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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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Wednesday, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
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- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
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