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Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. The BDI index decreased by around 50% from mid-December until the end of January and moved to the ytd low of 595 points on 11 February. Although a moderate drop was expected – having become a “seasonal phenomenon”, with subsequent losses before and during the Chinese lunar year – the magnitude of the decline in rates and indexes was largely unexpected. Moreover, the extended Capesize weakness continues to keep the BDI below 700 points despite the fact that earnings for the rest of the sizes have substantially recovered in the past weeks.
As was expected, in a period of three months with low freight rates, asset prices were also affected. However, naturally, the decrease on assets did not equal the decline of the freight rates. In the Capesize sector, it is notable that within the first quarter of 2019, there were no SnP transactions. Owners of the specific segment, despite having witnessed a dramatic fall in rates are so far showing resistance.
In the Panamax sector, the ‘TAURUS OCEAN’ (78,819dwt-blt ’08, Japan) was sold last November for a price in the region of $14.5m, while a few days ago it was reported that the ‘ATLAS B’ (76,554dwt-blt ’08, Japan), was sold for a price in the region of $12.1m, similarly resulting to a 17% decrease.
The smaller decline of asset prices can be observed in Supramaxes of around 10 years old. The ‘OCEAN COLOSSUS’ (58,831dwt-blt ’10, Japan), was sold at end of December for a price in the region of $15.5m, while her identical sister ‘KOREAN LILY’ (58,713dwt-blt ’10, Japan), was sold two weeks ago for a price in the region of $14.2m, indicating only a 8% decrease.
There is greater asset price elasticity for Handysizes than that observed in Supramaxes. Indicatively, the ‘ASIAN BEAUTY’ (28,218dwt-blt ’11, Japan) was sold last November for a price in the region of $9.5m, while a sister vessel, the ‘TOKOMARU BAY’ (28,258dwt-blt ’11, Japan), was committed a few days ago for a price in the region of $8.2m, indicating a 14% decrease.
It should be noted that the aforementioned comparisons are indicative and do not accurately represent the exact asset price decreases across segments. They do, nevertheless, offer us an indication of the underlying pricing trends, coupled with how prices fared in the past few months.
The slow market recovery to pre-Christmas levels or similar, does not seem to be creating such a big concern in the SnP market. Despite the discounted rates, SnP activity remains elevated overall even though sellers have shown greater than expected resistance. There appears to be a positive sentiment generally, resulting in many ship-owners buying low or replacing older tonnage with more modern units. All in all, there is some optimism that there will be an increase of freight rates in q2 and q3, as indicated by charterers asking for vessels for period charters in far better levels compared to the spot market.
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, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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Showing 1241 to 1245 news of total 6871 |
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- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
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