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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, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
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- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
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