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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, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
Tuesday, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
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- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Planning Commission, India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
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