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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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Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
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