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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, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
Supramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Bo ...
Wednesday, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
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Showing 1996 to 2000 news of total 6871 |
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- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
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