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Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
 In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with regards to freight rates. Starting from the early-mid of summer the dry bulk industry followed a significant upward trend and despite some minor corrections that have been occurred lately, the BDI seems to have stabilized at high 1,000 points. Levels, which seem particularly attractive when compared to the recent past.
However, even more impressive is the recent tanker freight market rally, with the improvement on rates last week being unstoppable, where crude carriers are leading the way, and product carriers are for the time being following to a smaller extent.
More specifically, on the wet industry, which rightfully holds the majority of interest from people in the shipping industry. The continuation of the uncertainty with regards to the geopolitical arena together with winter period and with the upcoming regulation of IMO 2020, are creating a very promising future market. Even though the smaller product carriers, don’t appear to being in fashion with a crude carrier, the current trend for conversion of LRS into dirty traders, together with upcoming regulations, will possibly significantly improve this part of the market as well.
With regards to the wet SnP market, on vessels built post 2000, there are two trends that are being formed. On the one side are the crude carriers where the supply side of available sale candidates is limited. In detail, there are only 20 to 30 in total crude carriers available across all sizes, with the majority of them being Aframaxes and less being Suezmaxes or VLCCs. Moreover, concerning the age of the available for sale vessels, on Aframaxes the age range is from 10 to 17 years old, whereas on Suezmaxes and VLCCs the age is early to mid-2000. On the other side are product tankers, MR candidates, which are available for sale in larger numbers, and with regards to age are older than 10 years. In contrast with LR1 and LR2, which have limited available candidates for sale. Any further increase on freight rates in product carriers, will definitively lead to many vessels off the market.
As far as SnP values, if someone takes into account the freight, which is currently reported in the VLCC market, it is easy to understand that SnP prices are changing very quickly. Whether and to what extent prospective buyers are willing to pay for the new prices remains to be seen and is directly correlated with how freight rates will perform.
The rule of buy low and sell high, has been applied, however the coin has two options. Buy if you think that now is cheaper (and you are able to find a suitable vessel) from the future and sell if you have bought it cheaper, as conditions are created for a quick profit from flipping vessels that have been bought at lower prices in the past.
All in all, the following months are definitely hiding many surprises and hopefully will have a positive outcome in the end.
By Nassos Soulakis
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, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
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