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