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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, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
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Showing 1821 to 1825 news of total 6871 |
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- ICICI Bank Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
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