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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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Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Planning Commission, India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- PTC India Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
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