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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, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
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