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Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
 Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest maritime event worldwide. The evolution of the event that takes place every two years is massive both in terms of quality as well as in terms of visitors, while the number of exhibitors keeps growing at an impressive rate despite the overall challenging times a number of maritime sectors are currently going through. As expected most discussions focused on expectations in regards to the dry bulk market recovery and of course the stabilization of tanker earnings.
During the second half of Q2 dry bulk prices corrected upwards roughly 15% when compared to the lows – record in many cases - witnessed at end of Q1. The small increase in earnings as well as buying interest from those that rushed to acquire extremely attractive priced tonnage before prices improved, supported this correction, which was considered by many excessive relative to the improvement in the freight market, while the rise in asset prices was also fueled by the small number of vessels available for sale. The deals below are evidence of this asset prices firming trend.
On the other hand, the increased supply of tankers candidates in the second-hand market on the back of depressed demand has further pushed downwards asset prices that were already negatively affected by rates declining since the beginning of the year.
The paradox when looking at both sectors is that the second-hand market is not aligned with the respective freight market. Despite the fact that tanker rates are still healthy - despite the significant correction - this is a buyer’s market, while over at the dry bulk side, where rates are still around OPEX levels, Sellers seem to be the ones in control. Is there something to be inferred by this paradox?
I will leave this to the reader’s judgement.
By Konstantinos Kontomichis
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, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
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- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Planning Commission, India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- The University of Queensland
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
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