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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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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Economic Council, Georgia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
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