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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
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