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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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Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- The University of Queensland
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
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