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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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- White Energy Company Limited
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
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