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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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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
Thursday, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
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- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- VISA Power Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
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