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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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Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
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- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
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