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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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Tuesday, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
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- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
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