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