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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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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- The University of Queensland
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Australian Coal Association
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
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