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Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the market for over a month. Despite this, sales activity remains limited as we are approaching the end of the year and as new regulations are about to come into effect in about a month’s time, with owners being in a wait and see mode until there is less ambiguity in the market.
The ratio of asset prices over earnings is still fairly attractive relative to previous years, creating a potentially interesting environment for investments. At the same time and despite the recent back and forth, it seems that the long awaited agreement between USA-China that will end the trade war between the two countries and will enhance support to the sector is finally approaching.
Orderbooks across the dry bulk sector are also at low levels. Market volatility throughout the year and uncertainty over the effect of the new regulations hampered ordering activity throughout the year so far, while we have also witnessed increased scrapping compared to 2018.
As far as recent sales activity in the Capesize sector is concerned, we are hearing that the larger Azul Fortuna (203kdwt, blt’05 Universal) has been committed at USD 15,8mill, which is a softer price compared to the one year older Azul Integrity that was sold for the same price about a month ago. After her previous sale did not materialize and following a second round of inspections, the Panamax Coral Emerald (76kdwt, blt’07 Sanoyas) is reported sold for USD 11mill. This also a softer price of about USD650k compared to the last done, which also comes as a result of the recent drop in freight rates.
While the market outlook in tankers is brighter with rates being at healthy levels for some time now, the number of sales is limited in view of lack of available tonnage for sale and the increase in asset values. Nevertheless, there is still firm interest for middle aged crude tankers, while a number of buyers are currently active in the product sector. After the last month’s spike in values we see that prices have flattened, while freight rates remain robust amid the winter season and on-going sanctions that have affected supply in the last couple of months. Greek buyers c/o Monte Nero Maritime are reported to have bought the Aframax Seaways Fran (112kdwt, blt’01 Hyundai) at USD 13.6mill, a price which falls in line with recent activity in the sector.
Overall, we expect December to be quiet in terms of activity in both sectors, with Buyers taking a step back and re-evaluating their strategy following this admittedly interesting year in terms of SnP trends.
By Vasilis Moiris
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, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
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- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
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