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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, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
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- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
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