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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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Monday, 08 April 19
SULPHUR 2020 - COUNTDOWN TO THE SWITCHOVER - LLOYD'S REGISTER
Sulphur 2020 (MARPOL Annex VI Reg. 14.1.3) is still dominating headlines and as we draw closer to the 1 January 2020 deadline it’s clear that ...
Monday, 08 April 19
INDONESIAN COAL PRICE REFERENCE PRICE PLUMMETS TO LOW NOT SEEN SINCE AUGUST 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Sunday, 07 April 19
SHIP PASSAGE PLANS - NO ROOM FOR ERROR! - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The English High Court’s judgment in Alize 1954 v Allianz Elementar Versicherungs AG (The CMA CGM Libra) is an impo ...
Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
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- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Australian Coal Association
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
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