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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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Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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Showing 2406 to 2410 news of total 6871 |
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- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Parliament of New Zealand
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
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