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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, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
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Showing 2091 to 2095 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
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