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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, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
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- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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