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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 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
Tuesday, 14 February 17
OPTIMISM HAS STARTED TO SLOWLY FLOW BACK INTO THE DRY BULK MARKET - GEORGE LAZARIDIS
Optimism has started to slowly flow back into the dry bulk market, with many in the market showing renewed optimism as the Pacific basin starts to ...
Monday, 13 February 17
COMBINED COAL SALES OF BUMI RESOURCES ROSE TO 87.7 MILLION TONS IN FY'16; UP 10.6 PERCENT Y/Y
COALspot.com: Combined Coal Sales of Bumi Resources rose to 87.7 million tons in FY’16 compared with 79.3 million tons in FY’15. ...
Monday, 13 February 17
THE FREIGHT MARKET CONTINUED TO TUMBLE IN FEBRUARY
COALspot.com: The Freight market was continued its downfall in all segments except Panamax for the week ending 10 February 2017.
The Balt ...
Friday, 10 February 17
U.S. COAL OUTPUT IS ESTIMATED TO HAVE DECLINED BY 158 MMST IN 2016 TO 739 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
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- White Energy Company Limited
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
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