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Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
 Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the beginning of the process for the country's exit from the European Union. Despite the fact that the medium and long term effects of this historical decision are hard to assess at the moment, the shockwaves from Thursday's result were felt by nearly everyone in the investing community. Wiped out stock values, a plunge in oil prices and of course a shaky sterling were some of the immediate referendum effects, while the shipping industry, already fundamentally challenged in many ways is still trying to figure out what to expect by this new development. Brexit will introduce a new reality for the British people that will bring along massive challenges for the country's economy but will also result in a stronger effort by the Britons in order to become more competitive, with newly formed or altered trade agreements with other countries that are bound to impact the shipping industry as well.
Either or we will have to wait much longer to fully see the impact of this rather unexpected divorce between Britain and the E.U. on our industry, while the fact that all dry bulk indices, opposite to most global market indices, rose on Friday, is strong evidence of how hard this correlation is at the moment. If anything buying interest for bulkers appears to be unaffected for now. Kamsarmaxes, Panamaxes and Supramaxes built during the last decade are currently the most popular, with Japanese built tonnage naturally gathering most inspections. Despite the undoubtedly firm activity though, there is still a lot of insecurity among owners who remain sceptic in regards to how long it will take before a meaningful recovery takes place. As for those owners who are currently contemplating to buy, this feeling of insecurity is additionally also fed by the recent firming of prices which definitely makes the decision to invest costlier and consequently riskier. Saying that and despite this recent firming in dry bulk asset values, prices are still low. Last week we saw the M/V KEY BOUNDARY (83kdwt, blt 2010, Sanoyas) being committed in the region of USD 13.7m, while about a year ago a similar vessel was marketed at around $ 21.5m.
As far as tankers are concerned, the second hand market still remains on a downward path. The M/T SIGNAL MAYA (46kdwt, blt 2005, Naikai Zosen) was sold in the region of $ 15.5m and the M/T STAVANGER EAGLE (45kdwt, blt 2004, Shin Kurushima) was sold in the region of $ 16.0m. Owners' ideas for ten year old vessels were in the high $ 18.0m some time ago but have now come down to $ 16.0m and it looks very possible that they will keep going lower. As far as bigger vessels are concerned things are similar, the M/T E ELEPHANT (317kdwt, blt 2011, Hyundai) which was sold in the region of $ 55.6m, while the similar vessel M/T HANJIN RAS TANURA (309kdwt, blt 2011, Hyundai) was sold in the region of $ 75.0m back in February.
As a general observation, we are seeing two broad categories of buyers. Big shipowners who have been inspecting, offering -even low - and end up buying. These owners believe that this is the right time to renew their fleet and hope to also benefit from the eventual recovery of the market, which will result in the increase in value of an asset bought at low levels that should compensate them for the time they will have to financially support their investment. On the other hand, there are these owners who keep inspecting but do not offer, waiting to do so only when a clear sign of recovery is visible even if this means that they will have to face higher asset values when the time comes. Either or we don’t see the Brexit seriously affecting the logic of any of these two categories of Buyers for now.
By Giannis Andritsopoulos
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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Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Dalmia Cement Bharat India
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