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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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Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
Thursday, 15 March 18
BHEL COMMISSIONS 600 MW THERMAL POWER PLANT FOR APGENCO IN ANDHRA PRADESH
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned a 600 MW coal-based thermal power plant in the state of Andhra Pradesh.
...
Thursday, 15 March 18
SUEK GROUP SECURES $1.055BN 5-YEAR SYNDICATED PRE-EXPORT FINANCE FACILITY
SUEK Group signed a $1.055bn syndicated pre-export loan agreement. The facility with five years duration is secured against the Group’s expor ...
Wednesday, 14 March 18
COAL PRICES UP SAYS MINERALS COUNCIL - IAN KIRKWOOD,THE HERALD
NSW thermal coal exports were at near-record levels last year but prices were up, the Minerals Council of NSW has said after appraising annual stat ...
Wednesday, 14 March 18
NEW COAL PRICE FORMULA DOESN'T APPLY RETROACTIVELY: OFFICIAL - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry has decided to change the implementation period of the new discounted price formula for coal sold to the ...
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- The University of Queensland
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
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