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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, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- The University of Queensland
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
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