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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, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
Wednesday, 09 August 17
THE KEY IMPORTERS OF U.S. COAL FOR THE FIRST FIVE MONTHS OF 2017 ARE THE NETHERLANDS, INDIA AND JAPAN - PETER SAND, BIMCO
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total vo ...
Wednesday, 09 August 17
INDONESIAN COAL PRICE REFERENCE INCREASE COULD CONTINUE IN THE COMING MONTHS
COALspot.com: Indonesian coal benchmark price rose 6.36% in August, government data showed.
The benchmark price of Indonesian thermal ...
Wednesday, 09 August 17
COAL HAS GAINED AROUND 40% OVER THE PAST TWELVE MONTHS; IRON ORE HAS MOVED FROM AROUND $50/T IN AUGUST 2016 TO OVER $70/T TODAY - INTERMODAL
During the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enj ...
Tuesday, 08 August 17
THE BULLISH RIDE CONTINUES ON FOR THE IRON ORE MARKET - GEORGE LAZARIDIS
The bullish ride continues on for the iron ore market, with most in the market now eyeing the possibility for further gains to be had as Chine ...
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Showing 1976 to 1980 news of total 6871 |
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- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Planning Commission, India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
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