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Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as the BDI surpassed the 2,500 points level at the beginning of September, everyone in the market got excited about what was coming next, with the upcoming low sulphur regulations and the decrease in ordering activity both adding to the positive momentum.
Yet, the downward correction that followed this exciting period came as a reminder of how volatile and unpredictable the dry bulk market and the shipping industry in general is.
Indeed, it’s been a while since we last enjoyed a positive market for a period longer than a year, while market patterns of the past seem to be lost, with breaking war news that previously affected rates now hardly affecting the market and earnings becoming more vulnerable to reports in regards to political and economic changes.
The constant flow of important news nowadays is also affecting the traditional and alternative sources of financing available to shipowners, with the later unable to move fast in purchasing a vessel during times that asset prices are moving down, which also explains the softer activity in the second hand market and the overall anaemic activity on the newbuilding front.
Shipowners are taking their strategic decisions very carefully and the majority of them focuses on vessels that are around 10 years old, while in a few cases they finance themselves with 100% cash these investments. Indicatively, during the first quarter of 2019 we had 42 Supramaxes/Ultramaxes sales, 24 Panamaxes/Kamsarmaxes sales and 18 Post-Panamax up to Newcastlemax vessels sold; all with built dates ranging from 2004 to 2014.
During the last quarter of the year so far the same age range has seen 15 Supramax/Ultramax vessels exchanging hands, 7 Panamaxes/Kamsarmaxes sold and only 3 Post-Panamax up to Newcastlemax sold. The expected drop in second-hand market activity due to the declining freight rates is also causing a substantial drop when it comes to interest for bigger vessels that are prices more expensively compared to their smaller counterparts.
Based on the mood of the few active buyers at the moment and unless something changes dramatically, SnP activity will continue to be soft until the end of the year. Prospective buyers have a long list of available candidates to choose from; therefore this is undoubtedly a ‘buyer’s market’. All in all, market conditions help the ones who decide to renew their fleet and have the means to do so in order to position themselves better next year.
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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- The University of Queensland
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
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