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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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Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
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- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
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