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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
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