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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, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
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- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Renaissance Capital - South Africa
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