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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, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
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- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
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