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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, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
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- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Australian Coal Association
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
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