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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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Monday, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
Monday, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
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- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
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