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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, 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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- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
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