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Wednesday, 15 February 17
SHIPPING MARKET INSIGHT - INTERMODAL
 Looking at the state of the Dry Bulk market exactly a year ago, there is no doubt that there is a significant improvement and despite the fact that there are still many challenges, there is now also more hope that things are finally moving towards the right direction. On 11 February 2016, the BDI was at its historical lows, touching 290 points, while during that first quarter many vessels remained unfixed for long periods as in most cases below OPEX rates made no sense even for repositioning. Laying-ups naturally followed and extremely bad psychology led to extremely low asset prices, which even at historical low levels failed in many cases to ignite buying interest especially for vessels approaching 15 years of age.
As the market gradually started improving towards the end of the summer, sentiment also strengthened, helping the BDI climb above 1,000 points during the last quarter of the year. This improvement brought buying interest back, even from owners who had been inactive for years in the second-hand market. What is impressive though is the fact that even today, with the index standing at below 700 points, buying interest remains exceptionally strong despite the fact that prices remain firm – and in some cases even higher than what they were just before Christmas.
This definitely signals positive expectations for this year, which come on the back of improved forecasts for iron ore and coal demand in 2017, while the extended absence of newbuilding activity combined with high levels of scrapping last year are also reinforcing the positive momentum that is currently supporting second-hand prices. The percentage of slippage during 2016, which will be translated into delayed deliveries this year, is nonetheless important to watch out for in this rather optimistic environment.
So as the market now has more reasons to be optimistic compared to a year ago, potential buyers might look at this time as the time just before the window of opportunity to buy at fairly attractive levels closes. Consequently, interest, especially for modern tonnage has been high, with an impressive number of owners competing for such vessels. Most popular are modern Supramax and Kamsarmax vessels, with more than 10 owners inspecting each of these candidates, shaping in turn, a strong momentum in prices, with every deal being fixed at a premium over the last done.
Additionally, vessels built during the mid-late 90’s have also become popular compared to a year ago when almost no interest existed for such tonnage and when a big number of them was being sent for scrap. Indeed, we have been noticing during the past months that prices for Handymaxes and Panamaxes built at that time have inched up as buying interest particularly from Chinese and Middle Eastern buyers is firm. A representative example of this trend is the sale of two ’99 built Panamax bulkers last month at around $ 4.3 - 4.5m whereas during the same period last year a ’01 built Panamax was being sold at around $3.0m.
All in all, things have undeniably improved and we are now waiting to see whether the positive signs and the restrained optimism, successfully translate into a healthier market during the second half of this year.
By George Iliopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
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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Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
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- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
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