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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, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1851 to 1855 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Australian Coal Association
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- The University of Queensland
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
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