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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
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