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Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
 We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indications that hire rates would stabilize at viable levels, but after Q1 asset values rose. Now the shipping market is in a wait and see mode, still very uncertain in regards to whether this recent small spike will prove sustainable or not and of course how will it affect asset values going forward.
It's not that investors wish the market to get worse; it’s just that right now, prices do not reflect the absence of a substantial recovery in the freight market. In other words they don't really make sense, at least to most people.
Q1 was clearly the bottom as far as values are concerned, but that lead to increased demand for modern tonnage, a trend that eventually boosted prices all the way throughout the beginning of Q4. Ship owners simply did what they do best. They invested in a low market.
During the first 3 quarters of the year, Handysize and Supramax vessels were the crowd favorites with the total number of transactions reaching 109 and 95 respectively, while Capes were trailing third with 75 deals. All in all at the end of September, a total of 465 transactions of bulk carriers were reported as being concluded.
As the buyer pool now seems to be getting smaller, we can help but wonder how SnP activity will be affected during the weeks leading to the end of the year. It seems that the shipping industry is mostly focusing on what 2017 will bring and there many people out there quite optimistic. The reason for this rare burst of optimism is based on a number of factors.
Starting with the newbuilding contracting so far we are counting only 47 contracts, with 30 of those vessels being the Valemaxes ordered by Chinese interests. We were at a 9-year low up until September. Additionally we have the Water Ballast Treatment regulations coming into effect as of next year, which will most definitely have an impact on the fleet and eventually freight rates. Owners will have to decide if they will speed up the Special Survey, prepare to install WBT or scrap the respective vessels.
Speaking about scrapping, 2015 and the first half of 2016 where very active followed by a slower H2. Now, if in addition to the new WBT regulation no further substantial recovery is witnessed in the freight market during H1 2017, demolition activity will normally remain robust throughout the summer months of 2017 and prior to the deadline of the implementation in early September. Given that there are approximately 57 million dwt (856 vessels) that are older than 20 years this does not seem too farfetched.
So from one hand there are no clear signs that the charter market will pick up, but there are factors that could or should limit the supply of tonnage. Well yes, in this assumption there is a lot of wishfully thinking, but bear with me for a second. All of the above is a combination of facts and speculation but they could eventually put a dent in the size of the fleet. In a way, it seems that 2017 is probably the first year that there are a few reasons to believe that the fleet will start to stabilize. Given the fact that that Owners and shipping in general have demonstrated remarkable resilience in this market it is not that illogical to hope or even believe that the next year could end up better even than expected.
By Timos Papadimitriou
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, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Monday, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Tuesday, 18 October 16
COAL PRICES KEPT CLIMBING
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
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- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
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