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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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- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- White Energy Company Limited
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
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