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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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Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
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Showing 1296 to 1300 news of total 6871 |
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- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- PTC India Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
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