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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 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur cont ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
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- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
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