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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, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
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- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
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