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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, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
Wednesday, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
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