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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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Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Latin American Coal - Colombia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
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