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Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing signs of stability with the BDI averaging from1,300 to 1,400 points. From the looks of it, most participants in the dry bulk market are enjoying this relative stability, coming from a period of intense uncertainty and little room for future business planning and developments.
A year later and despite the recent weakness in the Capesize market, we can confidently state that momentum has improved and is better for everyone, especially for ship owners. With various forms of finance being currently available to shipowners in addition to healthy freight rates it is a conclusively a better environment.
It is important to note that during the past ten years we rarely witnessed simultaneously healthy freight rates, multiple financial options and available vessels for sale, something that the current market is offering. These conditions have been favored a lot by the new regulations entering into force together with the challenging new technologies that have to be applied to existing vessels in order to limit emissions. Drawing closer to the deadline for the implementation of new regulations (BWTS & IMO 2020) there are growing concerns on how these are going to be implemented, a subject widely discussed across shipping forums worldwide.
Despite stronger expectations for the last quarter of the year, the BDI has been under a lot pf pressure during the past days in particular due to the substantial fall in Capesize earnings. Despite decent resistance from the rest of the sizes, the drop in earnings for the big bulkers has been certainly impacting sentiment negatively, with owners hoping that this is just an over-reaction to Cape specific events and that sooner rather than later the market will start performing once again under more normal conditions.
Focusing on the SnP side, sale candidates remain plenty, with Japanese vessels up to five years old are reported to be sold even before their candidacy becomes known in the market, as demand for such tonnage is extremely high and prices have remained overall stable. Buyers are currently more in control with their appetite remaining strong for every possible opportunity that may arise.
Vintage Handysize units are also very popular, with focus witnessed on vessels between 16 to 23 years old, where prices remain on the high side given the age range. This is occurring because there are not so many similar vessels left in the market and there is a distinctive lack of available Handysize vessels up to 12/13 years old in the market (as there are is a limited number of such vessels built).
It is also interesting to note that a large number of Far Eastern buyers, with most of them being Chinese, are the ones currently inspecting and offering for these older vessels. This trend comes into opposition with end of summer expectations, when the change of the Chinese regulations regarding the import of Tier II vessels was introduced and which appears to have had a much softer effect on SnP activity than what was initially expected.
By Konstantinos Kontomichis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
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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Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
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- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- VISA Power Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
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