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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, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
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Showing 1836 to 1840 news of total 6871 |
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- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Australian Coal Association
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
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