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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, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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Showing 2421 to 2425 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
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