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