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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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Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
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