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Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
 In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning signs prevalent in the last quarter 2018, were not enough to convince the market of the severity of the market’s course Baltic Dry Index showing resistance to falling below 1,000 points at the end of November but also with the small correction of the index (above 1,400 points) before Christmas holidays playing a misleading role.
The New Year started with the index being at around 1,280 points and in about 40 days the BDI decreased by around 50%, with the BDI closing at a remarkable 595 points on the 11th of February. Although the drop was expected due to the Chinese New Year the magnitude of the decline in rates and indexes was an unpleasant surprise.
The BDI index reached its lowest point of the last 46 months, without having the dynamic for an immediate correction to the index similar to November 2018 levels. Four months were needed in order for the BDI to reach the levels of January. During the last 10 days, the BDI rallied to healthier levels, with the most notable day last Friday when the BDI closed at 1,740 points. It is important to state that this figure is the highest of the year and only the third time the index has surpassed the 1,700 point mark in the past five years. The other two were on December 2017, which closed at 1,702 points and on August 2018, which closed at 1,773 points.
The SnP market was rather busy during the past six months. During the first half of the year, there were around 1,000 vessels officially and unofficially for sale, from Handysizes up to Newcastlemaxes – with ¼ of them successfully being sold (in 2017 we had 320 SnP transactions the same period). Many ship owners found the chance to flip older vessels with modern ones, and others bore the risk of the negative market and increased their existing fleet with cheaper vessels.
In the Handysize sector buyers showed and continue to show more interest in vessels around 10 years old and larger than 33.000dwt. Most vessels from quality yards were being sold very quickly. Bigger asset price elasticity was shown in Handysizes smaller than 32,000 dwt as demand for such vessels was lower, with a notable case being the 28,000 dwt vessels, of which some were sold at an attractive discount and others were not able to be sold.
In the Supramax & Ultramax sector, buyers’ orientation was for Supramaxes vessels around 5 to 15 years old and above 55,000 dwt. The total SnP transactions for Supramaxes reached around 68 vessels, while around 26 sales recorded for Ultramax vessels.
SnP activity was most pronounced on Panamaxes, especially for vessels built from 2000 up to 2010, with 40 reported sales. From the total 64 sales in the segment, 16 were for vessels younger of 8 years and 8 for vessels older than 20 years. On capes, shipowners are used to volatility on freight rates and showed resistance to selling. Totally 8 capes have been sold so far with the age of the vessels being around 14 to 17 years old.
By Konstantinos Kontomichis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
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