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Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
 Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at all on SnP transactions. Indeed, we see that dry bulk second hand prices have been actually moving up, fact that has been rather confusing for some.
In contrast to the latest BDI performance, It seems that most shipowners believe that following the Chinese New Year, the market will quickly recover and once again start moving at encouraging levels, hence their bids for tonnage currently available in the market is usually including a small premium that incorporates this expected positive market reversal that will secure them tonnage in today’s market and save them from competing at higher levels later on when more Buyers will feel encouraged to offer.
Looking at the performance of the Dry Bulk market as of the end of 2017, we notice that the index started to climb from around 1,360 points in mid-November and quickly reached 1,740 points in mid-December. From that point onwards we saw a steady drop that has brought the BDI down to 1,125 points last Friday, representing a drop of around 35% compared to mid-December. As already mentioned above this undeniably sizeable drop has not been reflected on asset prices at all, with modern vessels actually having witnessed an upside. What is also impressive is the number of Dry Bulk SnP transactions on record during this period that has reached 86.
This number is clearly reflecting the impressive buying interest, that is expressed from a number of buying nationalities and is quite intense even for older ships built during 2000-2002 and particularly Handymaxes and Panamaxes. These vessels are predominantly popular with Chinese buyers that aim on a Chinese flag. We have recently seen 7 Chinese buyers inspecting a 2001 built Handymax, evidence of the said interest. This also means that for as long as the local trade in China keeps developing and remains short on vessels, we will most probably see interest in those vessels increased, being the perfect candidates to fit the Chinese flag requirements at the lowest cost because of their age.
Another recent sign of the strong market momentum as far as SnP activity is concerned is the fact that a number of modern vessels that were for sale, were bought on a waving inspection basis; a clear reflection of the firm competition that keeps building up out there. The following month will be particularly interesting as well, as the Chinese New Year that is due in about three weeks is a time during which the market is also traditionally slow. If the SnP market manages to remain stable during this time, this will most definitely be a positive sign for what is coming ahead and an indication of further upside in asset values before the summer season.
Very recently we have also started seeing a number of non-Japanese Handies and Ultramaxes fetching very firm offers, which is an additional indication of the strong buying appetite out there. Let us hope that all these optimistic signs will indeed turn into positive developments for the market following the end of the Chinese New Year and that the recovery for bulkers will continue as smoothly as possible going forward, hopefully avoiding the crazy ups and downs we witnessed during recent years.
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, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
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- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- CNBM International Corporation - China
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
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