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Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
 Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at all on SnP transactions. Indeed, we see that dry bulk second hand prices have been actually moving up, fact that has been rather confusing for some.
In contrast to the latest BDI performance, It seems that most shipowners believe that following the Chinese New Year, the market will quickly recover and once again start moving at encouraging levels, hence their bids for tonnage currently available in the market is usually including a small premium that incorporates this expected positive market reversal that will secure them tonnage in today’s market and save them from competing at higher levels later on when more Buyers will feel encouraged to offer.
Looking at the performance of the Dry Bulk market as of the end of 2017, we notice that the index started to climb from around 1,360 points in mid-November and quickly reached 1,740 points in mid-December. From that point onwards we saw a steady drop that has brought the BDI down to 1,125 points last Friday, representing a drop of around 35% compared to mid-December. As already mentioned above this undeniably sizeable drop has not been reflected on asset prices at all, with modern vessels actually having witnessed an upside. What is also impressive is the number of Dry Bulk SnP transactions on record during this period that has reached 86.
This number is clearly reflecting the impressive buying interest, that is expressed from a number of buying nationalities and is quite intense even for older ships built during 2000-2002 and particularly Handymaxes and Panamaxes. These vessels are predominantly popular with Chinese buyers that aim on a Chinese flag. We have recently seen 7 Chinese buyers inspecting a 2001 built Handymax, evidence of the said interest. This also means that for as long as the local trade in China keeps developing and remains short on vessels, we will most probably see interest in those vessels increased, being the perfect candidates to fit the Chinese flag requirements at the lowest cost because of their age.
Another recent sign of the strong market momentum as far as SnP activity is concerned is the fact that a number of modern vessels that were for sale, were bought on a waving inspection basis; a clear reflection of the firm competition that keeps building up out there. The following month will be particularly interesting as well, as the Chinese New Year that is due in about three weeks is a time during which the market is also traditionally slow. If the SnP market manages to remain stable during this time, this will most definitely be a positive sign for what is coming ahead and an indication of further upside in asset values before the summer season.
Very recently we have also started seeing a number of non-Japanese Handies and Ultramaxes fetching very firm offers, which is an additional indication of the strong buying appetite out there. Let us hope that all these optimistic signs will indeed turn into positive developments for the market following the end of the Chinese New Year and that the recovery for bulkers will continue as smoothly as possible going forward, hopefully avoiding the crazy ups and downs we witnessed during recent years.
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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Saturday, 10 February 18
OIL PRICE USD 100/BARREL BY END OF 2018! - SAROJ MOHAPATRA
All demand supplies calculations are going wrong in oil market at present. US production is increasing at a good pace and set to topple Saudi comfo ...
Friday, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
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- Economic Council, Georgia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Planning Commission, India
- The University of Queensland
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
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