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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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- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Australian Coal Association
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- The University of Queensland
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
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