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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, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
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