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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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Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Tuesday, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
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- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
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