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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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Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Minerals Council of Australia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
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