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Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
 Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freight market at the moment, stagnation is the one that pretty much sums it up.
It seems that at this point of time the dry bulk market has found some sort of balance around OPEX levels for all segments, but even in these cases where a small profit margin is achieved, this is usually too insignificant to allow owners to meet the additional obligations arising from the financing cost that burdens most vessels.
The question that naturally arises is what will be this decisive event that will create the momentum to help drag the market outs if this current stagnation and what sorts of levels can it push the market to.
Irrespective of where the market is, the last two quarters of the year are typically stronger due to the boost of trade volumes of a number of dry cargo commodities at this time of the year. This means that we could well see the index nearing 700 points before the end of the year. Saying that, last year comes as a reminder that history doesn't always repeat itself. While bold predictions were made for the end of 2015, the market not only didn’t move upwards but it actually marked historical , up to that point, lows in many cases, which brings us to the negative scenario for this year end.
The prolonged uncertainty caused by long-term stagnation with minimum profits even for vessels without any CAPEX, has been certainly affecting psychology. Even though there has certainly been an improvement when compared to the first quarter of the year, when lay-up talk had heated up, the fact that a ceiling seems to have been reached for now is definitely removing sentiment support to a degree.
The third scenario is for the index to keep moving around the same levels for an even longer period of time, with the opposing market forces cancelling each other out, allowing the BDI to achieve only minimal adjusting movements around current levels.
Depending on which scenario market players believe in most, a different view is being shaped in regards to second-hand market strategy. From the one side the most optimistic players, taking advantage of the very attractive prices that are still close to all-time historical lows, move aggressively, inspecting vessels and choosing their investments strategically. A very distinctive example of players who seem to trust the market’s dynamics, taking a position in favor of an upcoming improvement are names like these of Oldendorff, Laskaridis and Marmaras who have recently acquired larger tonnage vessels. The same tendency can be found in vessels of smaller tonnage as modern Handy’s attract firm interest from perspective buyers. On the other side, many owners choose the opposite strategy selling their vessels or making them available for sale.
It is indisputable that 2016 has so far proven to be a great window for shopping in all dry bulk sizes. The key question is how long this window will remain open for. Even if the BDI further advances during the upcoming months, it is hard to believe that asset values will increase to last year's levels anytime soon, which in turn probably offers additional time to prospective buyers to carefully monitor available market candidates and even adjust their buying strategy.
By Nassos Soulakis
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, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- The University of Queensland
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
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