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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, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Planning Commission, India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Aditya Birla Group - India
- The University of Queensland
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
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