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Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this to be a happy ending. However, in reality the leading actor at the beginning of the plot was probably in a much better state without all these sacrifices made in order to survive. This somewhat resembles the year so far in regards to the dry bulk market. Despite the fact that in most cases rates have slowly moved above OPEX levels, the way to also cover any debt and eventually make profit is still long for most shipowners. Saying that, dry bulk owners are now in a much better state compared to the first half of the year and this also justifies those who took a more aggressive approach amidst a sharply falling market and invested in second-hand tonnage close –for many – to the absolute price bottom during q1 and q2 given the increase asset prices have been witnessing.
In the Capesize segment, the M/V Monegasque Eclat (ex - Spring Hydrangea 176k dwt 2006 Namura / Japan) was bought for $11.7m back in March and was sold for $13.5m in August, an increase of around 16%. Additionally, Stealth Maritime bought the M/V TIGERLILY (ex- C. Winner - 169k dwt 2008 Daehan / Korea) in March for a price in the region of $11.3m and sold it in August for $15.6m, an increase of 38% in just five months. Also during March, Singaporean owner Wilmar bought the M/V Ten Maru (ex-Tenshin Maru 82k 2008 Tsuneishi Zhoushan / China) for $8.0m and sold it for $11.3m a couple of weeks ago. In the Supramax sector, rumors are spreading this week that the M/V Star Manx (58k 2009 Tsuneishi Zhoushan) was sold at $12m, which is a significant premium compared to the sister vessel M/V Vinayak (ex - Caly Manx 58k 2009 Tsuneishi Zhoushan) which was sold back in June for $9.75.
Despite the substantial increase in asset values that took place after the end of the first half of the year though, one can say that price levels are still relatively low and despite the fact that competition among interested Buyers remains healthy, these Buyers nowadays demonstrate more resistance and do not in rush/panic buying. This is probably because they believe that a fundamental and meaningful recovery in earnings will only take place once global growth and trading start to accelerate and they are probably taking a more preservative approach which in terms of buying means; no rush. Additionally, with a number of big banks still looking at respective restructurings and private equity having distanced itself from shipping, finance still remains limited, which means that the number of “serious” Buyers is limited to those who have cash.
The development of the fleet could also provide some support to the market. On top of any demolition activity and slippage, starting September 2017 onwards, those vessels going through their respective dry docking will have to comply with the water ballast requirements, fact which – given the cost entailed in such compliance - should expedite the removal of an additional number of older vessels from the market. The limited ordering in the dry bulk sector, which the market has been witnessing since 2015, is also a positive driver as far as a more controlled fleet development is concerned.
Eight years following the onset of the shipping crisis back in 2008, it is not too optimistic to say that market fundamentals have finally started to slowly shift towards a more positive direction, motivating even the most conservative owners to start showing some interest in the second-hand market. With a more clear view ahead, those who were in a “wait and see” mode will most probably redirect themselves towards the “closely monitoring” or even the “inspection/buy” mode.
By TKonstantinos 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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Thursday, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
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