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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 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
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- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- The University of Queensland
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
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