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