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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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Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
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- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Deloitte Consulting - India
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