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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, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- Thai Mozambique Logistica
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- The University of Queensland
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
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