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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, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
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- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
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