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Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as the BDI surpassed the 2,500 points level at the beginning of September, everyone in the market got excited about what was coming next, with the upcoming low sulphur regulations and the decrease in ordering activity both adding to the positive momentum.
Yet, the downward correction that followed this exciting period came as a reminder of how volatile and unpredictable the dry bulk market and the shipping industry in general is.
Indeed, it’s been a while since we last enjoyed a positive market for a period longer than a year, while market patterns of the past seem to be lost, with breaking war news that previously affected rates now hardly affecting the market and earnings becoming more vulnerable to reports in regards to political and economic changes.
The constant flow of important news nowadays is also affecting the traditional and alternative sources of financing available to shipowners, with the later unable to move fast in purchasing a vessel during times that asset prices are moving down, which also explains the softer activity in the second hand market and the overall anaemic activity on the newbuilding front.
Shipowners are taking their strategic decisions very carefully and the majority of them focuses on vessels that are around 10 years old, while in a few cases they finance themselves with 100% cash these investments. Indicatively, during the first quarter of 2019 we had 42 Supramaxes/Ultramaxes sales, 24 Panamaxes/Kamsarmaxes sales and 18 Post-Panamax up to Newcastlemax vessels sold; all with built dates ranging from 2004 to 2014.
During the last quarter of the year so far the same age range has seen 15 Supramax/Ultramax vessels exchanging hands, 7 Panamaxes/Kamsarmaxes sold and only 3 Post-Panamax up to Newcastlemax sold. The expected drop in second-hand market activity due to the declining freight rates is also causing a substantial drop when it comes to interest for bigger vessels that are prices more expensively compared to their smaller counterparts.
Based on the mood of the few active buyers at the moment and unless something changes dramatically, SnP activity will continue to be soft until the end of the year. Prospective buyers have a long list of available candidates to choose from; therefore this is undoubtedly a ‘buyer’s market’. All in all, market conditions help the ones who decide to renew their fleet and have the means to do so in order to position themselves better next year.
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- White Energy Company Limited
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
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