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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, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 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 4,300 kcal/kg NCV coal per ...
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Showing 1526 to 1530 news of total 6871 |
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- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
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