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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, 11 January 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS FIXING AT AROUND $10K - FEARNLEYS
Supramax
USG rates improved both for backhaul and fronthaul, Ultras from USG to Japan receiving around $26k daily while supras 1-2k less for same ...
Wednesday, 10 January 18
2018: IT IS PROJECTED, THE SHIPBUILDERS WILL DELIVER FOUR HUNDRED FORTY NEW VESSELS IN 2018
Headlines from IMF's 2017 – World Economic Outlook:
January 2017 - “After a lacklustre outturn in 2016, economic activity is p ...
Tuesday, 09 January 18
INDONESIAN GOVERNMENT DECLARED COAL REFERENCE PRICE UP IN JANUARY
COALspot.com: the Indonesian Coal Price Reference ( HBA) rose 1.60 per cent in January 2018, the latest ministerial decree showed.
The benchma ...
Friday, 05 January 18
U.S. WEEKLY COAL OUTPUT FELL 32.4% PER CENT WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 10.5 million short tons ...
Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
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- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- White Energy Company Limited
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
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