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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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Showing 1391 to 1395 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Australian Coal Association
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- MS Steel International - UAE
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
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