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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, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
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- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
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