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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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Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
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Showing 21 to 25 news of total 6846 |
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- Mjunction Services Limited - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
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