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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, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
...
Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
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Showing 1821 to 1825 news of total 6871 |
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- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
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