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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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Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Friday, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
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Showing 1316 to 1320 news of total 6871 |
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- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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