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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, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
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Showing 2411 to 2415 news of total 6871 |
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- Planning Commission, India
- The University of Queensland
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
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