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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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Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Parliament of New Zealand
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
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