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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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Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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