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Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. The BDI index decreased by around 50% from mid-December until the end of January and moved to the ytd low of 595 points on 11 February. Although a moderate drop was expected – having become a “seasonal phenomenon”, with subsequent losses before and during the Chinese lunar year – the magnitude of the decline in rates and indexes was largely unexpected. Moreover, the extended Capesize weakness continues to keep the BDI below 700 points despite the fact that earnings for the rest of the sizes have substantially recovered in the past weeks.
As was expected, in a period of three months with low freight rates, asset prices were also affected. However, naturally, the decrease on assets did not equal the decline of the freight rates. In the Capesize sector, it is notable that within the first quarter of 2019, there were no SnP transactions. Owners of the specific segment, despite having witnessed a dramatic fall in rates are so far showing resistance.
In the Panamax sector, the ‘TAURUS OCEAN’ (78,819dwt-blt ’08, Japan) was sold last November for a price in the region of $14.5m, while a few days ago it was reported that the ‘ATLAS B’ (76,554dwt-blt ’08, Japan), was sold for a price in the region of $12.1m, similarly resulting to a 17% decrease.
The smaller decline of asset prices can be observed in Supramaxes of around 10 years old. The ‘OCEAN COLOSSUS’ (58,831dwt-blt ’10, Japan), was sold at end of December for a price in the region of $15.5m, while her identical sister ‘KOREAN LILY’ (58,713dwt-blt ’10, Japan), was sold two weeks ago for a price in the region of $14.2m, indicating only a 8% decrease.
There is greater asset price elasticity for Handysizes than that observed in Supramaxes. Indicatively, the ‘ASIAN BEAUTY’ (28,218dwt-blt ’11, Japan) was sold last November for a price in the region of $9.5m, while a sister vessel, the ‘TOKOMARU BAY’ (28,258dwt-blt ’11, Japan), was committed a few days ago for a price in the region of $8.2m, indicating a 14% decrease.
It should be noted that the aforementioned comparisons are indicative and do not accurately represent the exact asset price decreases across segments. They do, nevertheless, offer us an indication of the underlying pricing trends, coupled with how prices fared in the past few months.
The slow market recovery to pre-Christmas levels or similar, does not seem to be creating such a big concern in the SnP market. Despite the discounted rates, SnP activity remains elevated overall even though sellers have shown greater than expected resistance. There appears to be a positive sentiment generally, resulting in many ship-owners buying low or replacing older tonnage with more modern units. All in all, there is some optimism that there will be an increase of freight rates in q2 and q3, as indicated by charterers asking for vessels for period charters in far better levels compared to the spot market.
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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
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