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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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Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
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- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
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