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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 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
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- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
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