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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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
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 ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Parliament of New Zealand
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
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