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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.
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Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
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