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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, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Carbofer General Trading SA - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
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