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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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Tuesday, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
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Showing 1956 to 1960 news of total 6871 |
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- The University of Queensland
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Australian Coal Association
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
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