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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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Friday, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Afric ...
Friday, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
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- Australian Coal Association
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
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