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Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
 Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers reported are close to last done levels and despite the pressure in the beginning of the month, the spot market also seems to be resisting a further drop during the past week. All this has helped S&P activity to stay rather strong during a time when Buyers traditionally remain on the sidelines.
But even if 2018 ends up being a good year overall for the dry bulk market or even better than 2017; how long can this last?
Don't get me wrong, I am not expecting a collapse or a blood bath. After the lengthy period during which the massive orderbook had been casting a shadow over earnings and chocking any efforts for recovery, the market seems to have finally started reaching a balance and by this I mean that we are finally heading towards a cyclical behavior of transparent highs and lows.
Now in regards to the duration of those ups and downs, this is yet to be seen but nonetheless a more predictable or at least foreseeable market is something that ship owners, charterers and yards would love to experience again after many years of uncertainty.
We have witnessed rather short cycles in the tanker market with highs and lows being fully developed in a span of 34-44 months. But as far as tankers are concerned, we have also seen a solid differentiation between the crude and product market. It is not wrong to even talk about two different markets instead of unifying them under a single tanker market.
The shorter cycles have caused shrinkage of the duration of any windows for buying low or selling high. It is not unreasonable to expect that the dry bulk market will eventually start to show similar patterns if the aforementioned balance occurs.
It is hard to say if any specific dry bulk size segments that are highly dependable on very specific/limited number of cargoes will form sub-markets that will affect respectively asset values independently from the course of the sector as a whole as it has been the case for tankers. For example product cargo vessels have retained a more stable residual value (especially in the case of assets younger than 11 years) compared the crude carrying ships whose values appeared to be way more volatile.
But this it not the main concern or question of this insight. The main point is that a return to a more cyclical market will indeed require better reflexes on behalf of investors when it comes to placing money into either second hand or newbuilding assets.
This will put pressure to investors to have cash or finance easily accessible when opportunities arise. How will this influence the overall ship-owing land scape is yet to be seen. All of the above is pure speculation. For what is worth, we might be in the doorstep of another super cycle that will last more than 4 years. Time will tell.
By Timos Papadimitriou
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, 09 March 18
THE WORLD CANNOT KEEP IGNORING THE ASIAN COAL STORY - BENJAMIN SPORTON
There were significant changes in the global energy system in 2017, including the growth in electric vehicles, the rise of renewables and the conti ...
Friday, 09 March 18
U.S. EXPORTED 97 MMST OF COAL IN 2017, A 61 PER CENT INCREASE FROM 2016 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.1 million short tons ...
Thursday, 08 March 18
BUMA SIGNED OVER US$ 500 MILLION WORTH OF NEW CONTRACT WITH PT TANAH BUMBU RESOURCES
PT Delta Dunia Makmur Tbk., announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into mining services ...
Thursday, 08 March 18
THE ENERGY CONTRIBUTION FROM COAL-BASED POWER PLANTS IS LIKELY TO INCREASE TO 1072 BU BY 2021-22 : PIB
Government of India has set an ambitious target of 175 GW from Renewable energy sources (RES) by 2022, which comprises of 100 GW Solar, 60GW from W ...
Thursday, 08 March 18
SUPRAMAX: THE MARKET IS STILL GOING STRONG IN THE PACIFIC - FEARNLEYS
Supramax
The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore run ...
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Showing 1781 to 1785 news of total 6871 |
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- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
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