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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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Thursday, 08 March 18
AVERAGE U.S. COAL MINING PRODUCTIVITY INCREASES AS PRODUCTION FALLS - EIA
Coal mining productivity in the United States increased 26% over the past five years, reaching 6.8 tons per miner hour in 2017, up from 5.4 tons pe ...
Wednesday, 07 March 18
WHEN AN IRRESISTIBLE FORCE MEETS AN IMMOVABLE OBJECT - GARD
KNOWLEDGE TO ELEVATE
Negotiable bills of lading are fundamental to trade. As documents of title, they are essential to the sale and carriage o ...
Wednesday, 07 March 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The comparably small upside Handysize asset values have noted compared to other sizes since the historical lows of the dry bulk market in combinati ...
Tuesday, 06 March 18
FOREIGN INVESTORS ALLOWED TO BID FOR BIG MINING CONCESSIONS - THE JAKARTA POST
The government has allowed foreign investors to bid for mining concessions with a total area of more than 500 hectares, while smaller areas will be ...
Tuesday, 06 March 18
LNG VESSELS HAVE EMERGED AS THE FASTEST GROWING SEGMENT FOR THE WATERWAY - GERRY LATHROP
The day was July 25th 2016, a partly cloudy day on the Panama canal, and to most people a rather innocuous day without any real merit, however in s ...
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Showing 1786 to 1790 news of total 6871 |
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- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
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