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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, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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