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Wednesday, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can admit that it met expectations and we could arguably state that exceeded them. In the middle of December and just before the Christmas holidays, the BDI reached 1,700 points. The index hadn’t reached that specific number since January 2014, almost 4 full years. However, having entered 2018 and being halfway through the first quarter, we are witnessing an expected correction in the index. Like every year during Christmas and up to the peak of the Chinese Lunar New Year at the end of February, the Dry Bulk market is experiencing a decline which has been smaller in some years and larger in others. From the 12th December 2017 where the market reached its peak of 1,743 points the index started to decline. Currently the BDI remains in excess of 1.110 points and despite the correction in the index, which translates to around a 37% decrease, we observe a certain resilience, keeping it above 1,000 points.
Concerning the values for Bulk carriers we can argue that they are also resisting a decrease. Prices have remained stable on January and February, after the increase on the values during the last quarter of 2017. On the SnP segment, the increased values of the last quarter do not appear to be affected from the decreased TC rates, a fact which has proven the high expectations of ship-owners to be accurate. Buying interest for modern Japanese vessels remains firm across all sizes, with the supply of vessels currently being almost zero. The only modern five year old vessel which was sold in the middle of February was the “SOUTH TRADER” (180,200dwt-blt ‘13, Japan) which was sold to Singaporean buyers, for a price in the region of $36.5m.Two sales were reported for vessels which are around 10 years old. Handysizes “STAR LILY” (33,248dwt-blt ‘08, Japan) and “KUMANO LILY” (32,292dwt-blt ‘09, Japan) where sold en bloc to Hong Kong based buyers, for a price in the region of $10.3m and $11.2m respectively. On the other hand, buyers showing preference for Chinese vessels, proved to be relatively active, as we have had 17 SnP transactions comprising of 5 Handies, 5 Supras, 1 Ultra, 1 Kmax and 2 Post-Panamaxes.
The general feeling and the psychology shows to be positive and that is evident not only from SnP activity but also from the charterers side who, despite the decrease on T/C rates, have exhibited strong interest in T/C periods. Therefore, expectations from both sides coincide, both being optimistic. Lets see how positive the following months are going to be, and lets look forward for a strong 2018.
By Konstantinos Kontomichis
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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Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
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- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- VISA Power Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Australian Coal Association
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
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