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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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Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
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- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
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