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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, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Ma ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
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- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Australian Coal Association
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
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