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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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- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Australian Coal Association
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Meralco Power Generation, Philippines
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