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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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Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
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