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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
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