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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, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
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- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Thai Mozambique Logistica
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
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