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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, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
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Showing 1411 to 1415 news of total 6871 |
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- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
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