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Wednesday, 15 February 17
SHIPPING MARKET INSIGHT - INTERMODAL
 Looking at the state of the Dry Bulk market exactly a year ago, there is no doubt that there is a significant improvement and despite the fact that there are still many challenges, there is now also more hope that things are finally moving towards the right direction. On 11 February 2016, the BDI was at its historical lows, touching 290 points, while during that first quarter many vessels remained unfixed for long periods as in most cases below OPEX rates made no sense even for repositioning. Laying-ups naturally followed and extremely bad psychology led to extremely low asset prices, which even at historical low levels failed in many cases to ignite buying interest especially for vessels approaching 15 years of age.
As the market gradually started improving towards the end of the summer, sentiment also strengthened, helping the BDI climb above 1,000 points during the last quarter of the year. This improvement brought buying interest back, even from owners who had been inactive for years in the second-hand market. What is impressive though is the fact that even today, with the index standing at below 700 points, buying interest remains exceptionally strong despite the fact that prices remain firm – and in some cases even higher than what they were just before Christmas.
This definitely signals positive expectations for this year, which come on the back of improved forecasts for iron ore and coal demand in 2017, while the extended absence of newbuilding activity combined with high levels of scrapping last year are also reinforcing the positive momentum that is currently supporting second-hand prices. The percentage of slippage during 2016, which will be translated into delayed deliveries this year, is nonetheless important to watch out for in this rather optimistic environment.
So as the market now has more reasons to be optimistic compared to a year ago, potential buyers might look at this time as the time just before the window of opportunity to buy at fairly attractive levels closes. Consequently, interest, especially for modern tonnage has been high, with an impressive number of owners competing for such vessels. Most popular are modern Supramax and Kamsarmax vessels, with more than 10 owners inspecting each of these candidates, shaping in turn, a strong momentum in prices, with every deal being fixed at a premium over the last done.
Additionally, vessels built during the mid-late 90’s have also become popular compared to a year ago when almost no interest existed for such tonnage and when a big number of them was being sent for scrap. Indeed, we have been noticing during the past months that prices for Handymaxes and Panamaxes built at that time have inched up as buying interest particularly from Chinese and Middle Eastern buyers is firm. A representative example of this trend is the sale of two ’99 built Panamax bulkers last month at around $ 4.3 - 4.5m whereas during the same period last year a ’01 built Panamax was being sold at around $3.0m.
All in all, things have undeniably improved and we are now waiting to see whether the positive signs and the restrained optimism, successfully translate into a healthier market during the second half of this year.
By George Iliopoulos
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, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Planning Commission, India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
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