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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.
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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Friday, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Friday, 04 August 17
IMPORTED COAL CONTINUES TO BE A COMPETITIVE, SAFE AND RELIABLE ENERGY SOURCE FOR GERMANY - VDKI
COALspot.com: Worldwide hard coal production in 2016 declined by 3.8% to 6.7 billion tonnes.
According to the Germany Coal Importers Associati ...
Thursday, 03 August 17
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE GETTING FIXED AROUND MID $8000 - FEARNLEYS
In the Pacific rates have remained weak and under pressure this week with most routes softening.
Indo/China coal rounds are getting fixed arou ...
Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 c ...
Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a ...
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Showing 1986 to 1990 news of total 6871 |
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- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
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