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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, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
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- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
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