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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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Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
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