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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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Tuesday, 21 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
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- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
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