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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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Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
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- McConnell Dowell - Australia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
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