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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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Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
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- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
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