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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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Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
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