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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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Wednesday, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
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- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
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