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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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Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
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- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Australian Coal Association
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
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