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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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Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
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- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Planning Commission, India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
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