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Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing signs of stability with the BDI averaging from1,300 to 1,400 points. From the looks of it, most participants in the dry bulk market are enjoying this relative stability, coming from a period of intense uncertainty and little room for future business planning and developments.
A year later and despite the recent weakness in the Capesize market, we can confidently state that momentum has improved and is better for everyone, especially for ship owners. With various forms of finance being currently available to shipowners in addition to healthy freight rates it is a conclusively a better environment.
It is important to note that during the past ten years we rarely witnessed simultaneously healthy freight rates, multiple financial options and available vessels for sale, something that the current market is offering. These conditions have been favored a lot by the new regulations entering into force together with the challenging new technologies that have to be applied to existing vessels in order to limit emissions. Drawing closer to the deadline for the implementation of new regulations (BWTS & IMO 2020) there are growing concerns on how these are going to be implemented, a subject widely discussed across shipping forums worldwide.
Despite stronger expectations for the last quarter of the year, the BDI has been under a lot pf pressure during the past days in particular due to the substantial fall in Capesize earnings. Despite decent resistance from the rest of the sizes, the drop in earnings for the big bulkers has been certainly impacting sentiment negatively, with owners hoping that this is just an over-reaction to Cape specific events and that sooner rather than later the market will start performing once again under more normal conditions.
Focusing on the SnP side, sale candidates remain plenty, with Japanese vessels up to five years old are reported to be sold even before their candidacy becomes known in the market, as demand for such tonnage is extremely high and prices have remained overall stable. Buyers are currently more in control with their appetite remaining strong for every possible opportunity that may arise.
Vintage Handysize units are also very popular, with focus witnessed on vessels between 16 to 23 years old, where prices remain on the high side given the age range. This is occurring because there are not so many similar vessels left in the market and there is a distinctive lack of available Handysize vessels up to 12/13 years old in the market (as there are is a limited number of such vessels built).
It is also interesting to note that a large number of Far Eastern buyers, with most of them being Chinese, are the ones currently inspecting and offering for these older vessels. This trend comes into opposition with end of summer expectations, when the change of the Chinese regulations regarding the import of Tier II vessels was introduced and which appears to have had a much softer effect on SnP activity than what was initially expected.
By Konstantinos Kontomichis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
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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Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
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- Minerals Council of Australia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
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