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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, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
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- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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