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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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Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
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, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
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Showing 1386 to 1390 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- The University of Queensland
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
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