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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, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
Monday, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Minerals Council of Australia
- The University of Queensland
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
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