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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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Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
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