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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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Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
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- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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