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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, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
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- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
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