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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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Wednesday, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
Tuesday, 20 February 18
INDIA: COAL IMPORT RISES BY 12 PER CENT TO 18 MILLION TONNES IN JANUARY - PTI
The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.
44 MT in the same month of the ...
Monday, 19 February 18
JOINT INSURANCE - WHY SHOULD YOU CARE? - SKULD
KNOWLEDGE TO ELEVATE
It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each othe ...
Friday, 16 February 18
U.S. WEEKLY COAL OUTPUT DOWN 4.5 PER CENT WEEK OVER WEEK, 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 ...
Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
Coal-based power plants are feeling the heat of spike in thermal grade coal prices and railway freight costs.
Prices of thermal grade coal sin ...
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Showing 1801 to 1805 news of total 6871 |
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- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
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