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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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Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
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Showing 1386 to 1390 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- The University of Queensland
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
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