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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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Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- PTC India Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
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