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Wednesday, 04 October 17
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
During the past couple of months the dry bulk market has displayed particularly strong momentum and we have been witnessing steady appetite and activity on behalf of Buyers in the second-hand market. This positive momentum is particularly evident if one considers the fact that the Chinese holidays that are currently taking place and usually bring pressure on rates have not affected buying activity to the least. Of particular importance is also the fact that interest for older candidates has also been firming, a usual occurrence when the market starts to become particularly strong.
It is remarkable that during the last quarter, we have seen more than 25 bulk carriers (from Handysize up to Panamax) built between 1997 and 2002, being sold. This very strong activity as far as older tonnage is concerned is something we hadn’t observed for quite a while, as firm buyers for vessels of around 15 to 20 years old are not standard occurrence.
Additionally, we have seen many firm buyers for vessels built between 2000 and 2002, which is explained by the fact that the China Classification Society only approves of vessels built from 2000 onwards. Modern vessel sales are also impressive in terms of numbers. During the last quarter around 124 vessels built from 2003 onwards we sold, this number also including Capesize vessels as well as resales. Specifically in Supramax and Panamax/Kamsarmax vessels, every last done is at a premium over the last comparable sale, which evidences the potential of Buyers who adjust their ideas very quickly in order to successfully position themselves within a market that is exciting one of the biggest crisis ever.
Greatly improved newbuilding activity compared to last year is another important sign as far as the solid momentum of the market is concerned. Although contracting is nowhere close to the volumes we witnessed back in 2013 and 2014, the fact that owners have slowly but steadily started to once again see potential in the newbuilding option is definitely reflecting the reversal in psychology.
Another interesting fact is that a number of Buyers, those interested in modern vessels in particular, are offering on a waving inspection basis and paying a small premium in order to secure the respective vessel, something that we hadn’t seen for quite a while, as most investors were rather hesitant before actually offering up until recently.
At the same time interest for Chinese tonnage is firming across all sizes, with prices also inching up in tandem with Japanese tonnage that has been quickly appreciating in particular for 10-yr old Supramaxes. Additionally, we have started to see a number of sales concerning vessels that were bought last year during the lows of the market, and are now being re-sold sometimes for double the price.
Chinese buyers themselves have also become particularly active in the past couple of months, which is another positive market sign. Despite the more relaxed mood they have been displaying during the past days in anticipation of the National holidays in the country, we expect them to return with the same interest in second-hand tonnage once the holidays are over. After all a number of purchase enquiries from Chinese buyers still remains uncovered, while the fact that very recently eight Chinese buyers inspected a ’98 built Panamax is indicative of their appetite.
By George Iliopoulos
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
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Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
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- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Planning Commission, India
- PTC India Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
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