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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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Friday, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
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Showing 2091 to 2095 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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