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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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Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
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- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
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