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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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Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
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