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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, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
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