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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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Wednesday, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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Showing 2021 to 2025 news of total 6871 |
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- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
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