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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, 14 February 18
HISTORY REPEATING ITSELF? - IEA
This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 o ...
Wednesday, 14 February 18
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
The second month of the year is traditionally a particularly interesting one for the shipping industry as a whole and even more importantly for the ...
Monday, 12 February 18
PANAMAX: WITH LIMITED FRESH ENQUIRY IN ALL AREAS, SPOT MARKET RATES DRIFTED LOWER THROUGHOUT THE WEEK - BALTIC BRIEFING
Capesize
A switch to the Atlantic with rates firming as charterers seemed keen to fix and tonnage was tight, prompting a recovery in rates. Trans ...
Monday, 12 February 18
WORLDWIDE: 'DEMURRAGE CLAIMS' FOR THE PURPOSES OF DOCUMENTARY TIME BARS
KNOWLEDGE TO ELEVATE
On 2 February 2018 the Commercial Court allowed an appeal from a decision of the Arbitration Tribunal in Lukoil Asia Paci ...
Saturday, 10 February 18
COAL INDIA ON PATH OF SUSTAINABLE PRODUCTION GROWTH AND SUPPLY TO POWER AND NON POWER SECTOR - PIB
Supply of 371.8 MT of Coal to Power Sector and 103.1 MT Coal to Non-Power Sector Achieved in 2017-18 Till January,2018 Average Rake Loading To The ...
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Showing 1806 to 1810 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
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