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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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Wednesday, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
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