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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, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
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