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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, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- White Energy Company Limited
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
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