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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, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
Wednesday, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
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Showing 1846 to 1850 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
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