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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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Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
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- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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