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Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning signs prevalent in the last quarter 2018, were not enough to convince the market of the severity of the market’s course Baltic Dry Index showing resistance to falling below 1,000 points at the end of November but also with the small correction of the index (above 1,400 points) before Christmas holidays playing a misleading role.
The New Year started with the index being at around 1,280 points and in about 40 days the BDI decreased by around 50%, with the BDI closing at a remarkable 595 points on the 11th of February. Although the drop was expected due to the Chinese New Year the magnitude of the decline in rates and indexes was an unpleasant surprise.
The BDI index reached its lowest point of the last 46 months, without having the dynamic for an immediate correction to the index similar to November 2018 levels. Four months were needed in order for the BDI to reach the levels of January. During the last 10 days, the BDI rallied to healthier levels, with the most notable day last Friday when the BDI closed at 1,740 points. It is important to state that this figure is the highest of the year and only the third time the index has surpassed the 1,700 point mark in the past five years. The other two were on December 2017, which closed at 1,702 points and on August 2018, which closed at 1,773 points.
The SnP market was rather busy during the past six months. During the first half of the year, there were around 1,000 vessels officially and unofficially for sale, from Handysizes up to Newcastlemaxes – with ¼ of them successfully being sold (in 2017 we had 320 SnP transactions the same period). Many ship owners found the chance to flip older vessels with modern ones, and others bore the risk of the negative market and increased their existing fleet with cheaper vessels.
In the Handysize sector buyers showed and continue to show more interest in vessels around 10 years old and larger than 33.000dwt. Most vessels from quality yards were being sold very quickly. Bigger asset price elasticity was shown in Handysizes smaller than 32,000 dwt as demand for such vessels was lower, with a notable case being the 28,000 dwt vessels, of which some were sold at an attractive discount and others were not able to be sold.
In the Supramax & Ultramax sector, buyers’ orientation was for Supramaxes vessels around 5 to 15 years old and above 55,000 dwt. The total SnP transactions for Supramaxes reached around 68 vessels, while around 26 sales recorded for Ultramax vessels.
SnP activity was most pronounced on Panamaxes, especially for vessels built from 2000 up to 2010, with 40 reported sales. From the total 64 sales in the segment, 16 were for vessels younger of 8 years and 8 for vessels older than 20 years. On capes, shipowners are used to volatility on freight rates and showed resistance to selling. Totally 8 capes have been sold so far with the age of the vessels being around 14 to 17 years old.
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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Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
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Showing 11 to 15 news of total 6846 |
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- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
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