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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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Wednesday, 08 February 17
MARKET INSIGHT - PANOS MAKRINOS
The challenges the oil market has witnessed since the end of 2014 has resulted in a crisis for the global offshore oil and gas exploration industry ...
Tuesday, 07 February 17
WE ARE STILL RIDING ON A WAVE OF MARKET IMPROVEMENT, WITH THE GLOBAL TRADE OF MOST COMMODITIES STILL SHOWING SIGNS OF IMPROVING GROWTH - GEORGE LAZARIDIS
The end of 2016 came with a rejuvenated sentiment amongst most traders and investors, in part through the sigh of relief that 2016 was finally comi ...
Monday, 06 February 17
AFTER MONTHS OF GAINS, THE INDONESIAN GOVERNMENT DECLARED MONTHLY COAL BENCHMARK PRICE IS STEADILY DROPPING
COALspot.com: Over the past two months, the HBA of Indonesian thermal coal has dropped around 18.06 percent. It sank to $ 83.32 per ton for Februar ...
Monday, 06 February 17
THE FREIGHT MARKET CONTINUED ITS DOWNFALL IN ALL SEGMENTS
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was declined in all segments week ending 27 January. The fall was cont ...
Friday, 03 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
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- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
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