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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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Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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Showing 2436 to 2440 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- PTC India Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- The Treasury - Australian Government
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