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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, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
Wednesday, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
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Showing 1961 to 1965 news of total 6871 |
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- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
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