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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, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
Monday, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
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