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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, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
Friday, 04 January 19
FOCUS IS ON BOOSTING COAL PRODUCTION: INDIAN COAL MINISTER
The current focus of the government is on boosting production from operational coal mines, according to Minister for Coal, Piyush Goyal.
...
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- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
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