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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, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
...
Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
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