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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, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
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