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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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Friday, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
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Showing 1841 to 1845 news of total 6871 |
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- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- The University of Queensland
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