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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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Friday, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
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Showing 1841 to 1845 news of total 6871 |
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- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
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