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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, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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Showing 2436 to 2440 news of total 6871 |
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- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
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