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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, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
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