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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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Thursday, 18 May 17
SOUTHEAST ASIA CAN ACCELERATE ACHIEVEMENT OF PARIS AGREEMENT GOALS - WCA
Low emissions coal in Asia reduces more CO2 emissions than renewable investment in Western Europe.
Investing in low emissions coal plants in S ...
Wednesday, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
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- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
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