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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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Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
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- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- The University of Queensland
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
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