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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, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Bhatia International Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
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