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