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Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
 In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with regards to freight rates. Starting from the early-mid of summer the dry bulk industry followed a significant upward trend and despite some minor corrections that have been occurred lately, the BDI seems to have stabilized at high 1,000 points. Levels, which seem particularly attractive when compared to the recent past.
However, even more impressive is the recent tanker freight market rally, with the improvement on rates last week being unstoppable, where crude carriers are leading the way, and product carriers are for the time being following to a smaller extent.
More specifically, on the wet industry, which rightfully holds the majority of interest from people in the shipping industry. The continuation of the uncertainty with regards to the geopolitical arena together with winter period and with the upcoming regulation of IMO 2020, are creating a very promising future market. Even though the smaller product carriers, don’t appear to being in fashion with a crude carrier, the current trend for conversion of LRS into dirty traders, together with upcoming regulations, will possibly significantly improve this part of the market as well.
With regards to the wet SnP market, on vessels built post 2000, there are two trends that are being formed. On the one side are the crude carriers where the supply side of available sale candidates is limited. In detail, there are only 20 to 30 in total crude carriers available across all sizes, with the majority of them being Aframaxes and less being Suezmaxes or VLCCs. Moreover, concerning the age of the available for sale vessels, on Aframaxes the age range is from 10 to 17 years old, whereas on Suezmaxes and VLCCs the age is early to mid-2000. On the other side are product tankers, MR candidates, which are available for sale in larger numbers, and with regards to age are older than 10 years. In contrast with LR1 and LR2, which have limited available candidates for sale. Any further increase on freight rates in product carriers, will definitively lead to many vessels off the market.
As far as SnP values, if someone takes into account the freight, which is currently reported in the VLCC market, it is easy to understand that SnP prices are changing very quickly. Whether and to what extent prospective buyers are willing to pay for the new prices remains to be seen and is directly correlated with how freight rates will perform.
The rule of buy low and sell high, has been applied, however the coin has two options. Buy if you think that now is cheaper (and you are able to find a suitable vessel) from the future and sell if you have bought it cheaper, as conditions are created for a quick profit from flipping vessels that have been bought at lower prices in the past.
All in all, the following months are definitely hiding many surprises and hopefully will have a positive outcome in the end.
By Nassos Soulakis
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, 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
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
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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- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
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