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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, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- White Energy Company Limited
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
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