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Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
 A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a forecast –especially when asked to do the first insight of the year. And given the range of variables ahead, let make it a bit harder; let’s take a closer look on the DRY sector which remains at the forefront of volatility and the inherent liquidity of assets creates paradoxical examples faster than we can justify why it happened.
Many were anticipating a sluggish start to the year due to a strong Q4, markets taking a step back as they digest Trump taking over on 20Jan17 and of course the “inevitable seasonal lullaby” caused by the upcoming Chinese New year -28th January. However, activity levels and appetite for new business thus far point to a different direction. Sentiment remains strongly positive and literature around a much healthier 2017 is already stacking up. Negative fleet growth, lower than expected actual orderbook, higher commodity prices, focus on higher infrastructure spending globally and increasing pressure on older tonnage through a tighter regulatory framework are becoming the flavor of the month and it’s becoming impossible to spot even ONE person that believes that 2017 will be similar –let alone worse- than 2016. Yes, sentiment plays a huge role but before talking about a self-fulfilling prophecy have we really sailed away from Scylla and Charybdis?
With Dow Jones, Nasdaq and other indices worldwide trading at historical highs, it is rather worrisome that Bankers observe such procrastination from investors towards new offerings as well as increasing criticism over the production potential of existing stocks. Most pundits believe that the commodity and energy post-election rally to be largely overvalued and we could soon see its flipside. Continuous delays on the Basel III implementation schedule seem to be short-term “wins” for the banking system but, truth be told, access to finance is not going to change until we see the new system being in place.
2016 was a record-setting year in the post-Lehman year in terms of sales transacted as well as asset value appreciations across all sizes but on the contrary demo activity –especially in the second half of 2016- dropped considerably and, god forbid, if deliveries-demolition balance looks as bad as the graph below, then we might reach a new dead-end. If you add to the equation a rising appetite and itchy fingers lining up for newbuilding orders due to low prices and Tier II regulations, it makes for an explosive “cocktail”.
Finally, don’t forget that when it comes to dry bulk Shipping in the new millennium, the determining factor was, is and will be China and they have two important milestones coming up -ahead of the implementation of its newly voted environmental tax law. Firstly, the timeline and extent of adopting to Basel III regulations and secondly, the 19th National Congress of the Communist Party of China will be held in Beijing, China in the autumn of 2017. The new 5-year-plan is the focal point of the Chinese economy and hopefully the trigger event for a truly happy year.
All in all, the industry has certainly found a footing BUT we need to remain rational, stay the course of recovery and manage expectations based on the fundamentals that have brought us to the present.
By George Dermatis
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, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
Thursday, 14 September 17
KOMIPO INVITED BIDS FOR 5700 NAR BITUMINOUS COAL FOR BORYEONG POWER PLANT; 390K MT FOR NOV LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 390,000 Metric Tons of Bituminous coal ...
Wednesday, 13 September 17
U.S. COAL EXPORTS FOR THE FIRST SIX MONTHS OF 2017 WERE 55% HIGHER COMPARED TO THE SAME PERIOD IN 2016 - EIA
COALspot.com: EIA expects the share of U.S. total utility-scale electricity generation from natural gas to fall from an average of 34% in 2016 to a ...
Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about ...
Tuesday, 12 September 17
NEWCASTLE FOB PRICES ROSE STRONGLY AND ARE NOW THREATENING TO BREAK THROUGH US$100/T - DANIEL HYNES
COALspot.com: The rise in crude oil market supported further gains in thermal coal, says Daniel Hynes Senior Commodity Strategist at ANZ.
Acco ...
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Showing 1941 to 1945 news of total 6871 |
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- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- The University of Queensland
- Aditya Birla Group - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Minerals Council of Australia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
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