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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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Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
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- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
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