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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, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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Showing 1441 to 1445 news of total 6871 |
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- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
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