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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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Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
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