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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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- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
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