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Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
 In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning signs prevalent in the last quarter 2018, were not enough to convince the market of the severity of the market’s course Baltic Dry Index showing resistance to falling below 1,000 points at the end of November but also with the small correction of the index (above 1,400 points) before Christmas holidays playing a misleading role.
The New Year started with the index being at around 1,280 points and in about 40 days the BDI decreased by around 50%, with the BDI closing at a remarkable 595 points on the 11th of February. Although the drop was expected due to the Chinese New Year the magnitude of the decline in rates and indexes was an unpleasant surprise.
The BDI index reached its lowest point of the last 46 months, without having the dynamic for an immediate correction to the index similar to November 2018 levels. Four months were needed in order for the BDI to reach the levels of January. During the last 10 days, the BDI rallied to healthier levels, with the most notable day last Friday when the BDI closed at 1,740 points. It is important to state that this figure is the highest of the year and only the third time the index has surpassed the 1,700 point mark in the past five years. The other two were on December 2017, which closed at 1,702 points and on August 2018, which closed at 1,773 points.
The SnP market was rather busy during the past six months. During the first half of the year, there were around 1,000 vessels officially and unofficially for sale, from Handysizes up to Newcastlemaxes – with ¼ of them successfully being sold (in 2017 we had 320 SnP transactions the same period). Many ship owners found the chance to flip older vessels with modern ones, and others bore the risk of the negative market and increased their existing fleet with cheaper vessels.
In the Handysize sector buyers showed and continue to show more interest in vessels around 10 years old and larger than 33.000dwt. Most vessels from quality yards were being sold very quickly. Bigger asset price elasticity was shown in Handysizes smaller than 32,000 dwt as demand for such vessels was lower, with a notable case being the 28,000 dwt vessels, of which some were sold at an attractive discount and others were not able to be sold.
In the Supramax & Ultramax sector, buyers’ orientation was for Supramaxes vessels around 5 to 15 years old and above 55,000 dwt. The total SnP transactions for Supramaxes reached around 68 vessels, while around 26 sales recorded for Ultramax vessels.
SnP activity was most pronounced on Panamaxes, especially for vessels built from 2000 up to 2010, with 40 reported sales. From the total 64 sales in the segment, 16 were for vessels younger of 8 years and 8 for vessels older than 20 years. On capes, shipowners are used to volatility on freight rates and showed resistance to selling. Totally 8 capes have been sold so far with the age of the vessels being around 14 to 17 years old.
By Konstantinos Kontomichis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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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Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- The University of Queensland
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
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