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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, 11 January 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS FIXING AT AROUND $10K - FEARNLEYS
Supramax
USG rates improved both for backhaul and fronthaul, Ultras from USG to Japan receiving around $26k daily while supras 1-2k less for same ...
Wednesday, 10 January 18
2018: IT IS PROJECTED, THE SHIPBUILDERS WILL DELIVER FOUR HUNDRED FORTY NEW VESSELS IN 2018
Headlines from IMF's 2017 – World Economic Outlook:
January 2017 - “After a lacklustre outturn in 2016, economic activity is p ...
Tuesday, 09 January 18
INDONESIAN GOVERNMENT DECLARED COAL REFERENCE PRICE UP IN JANUARY
COALspot.com: the Indonesian Coal Price Reference ( HBA) rose 1.60 per cent in January 2018, the latest ministerial decree showed.
The benchma ...
Friday, 05 January 18
U.S. WEEKLY COAL OUTPUT FELL 32.4% PER CENT WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 10.5 million short tons ...
Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
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Showing 1831 to 1835 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- White Energy Company Limited
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Planning Commission, India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
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