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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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- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
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