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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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Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
Sunday, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
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- Vedanta Resources Plc - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- MS Steel International - UAE
- The University of Queensland
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- White Energy Company Limited
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
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