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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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- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- PTC India Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
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