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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, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
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- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Planning Commission, India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- The University of Queensland
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
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