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Wednesday, 07 March 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
 The comparably small upside Handysize asset values have noted compared to other sizes since the historical lows of the dry bulk market in combination with the intense competition witnessed in the second-hand market for Panamax and Supramax vessels, have made a number of Buyers start looking at this size with increased interest during recent months.
Indeed, since the start of December and up until mid-February buying interest for Handies was particularly intense, with units bigger than 32kdwt built in Japan proving more popular. We even saw two such candidates being sold on a waving inspection basis in order for the respective Buyers to beat competition. As far as Vietnamese and Chinese built candidates, interest has been mainly expressed by companies looking to get bigger and achieve economies of scale consequently focusing on en-bloc deals involving mainly vessels bigger than 35kdwt with 3 generators.
The interest in this size has in fact became so intense that such candidates are now harder to find, which paradoxically turned Buyers once again back to Supramax vessels. The later once again appeared attractive to those looking to invest, as secondhand prices were rather steady during the past couple of months and the strong momentum of 2017 q4 waned considerably throughout the Chinese New Year last month.
The increased interest in the size is indeed very evident in the number of last week’s transactions involving such vessels, with Buyers not discouraged by the admittedly large fleet as very low earnings volatility compared to the bigger sizes is characterizing Supramaxes. At the same time the gap between Japanese and Chinese built candidates has increased massively and is currently calculated at more than 30% in some cases as buying interest for Chinese Supras remains very low indeed.
As far as Kamsarmax vessels are concerned, enquiry for 2009-2012 vessels is particularly firm and hard to satisfy at the moment as such candidates remain few. The gap between Japanese and Chinese vessels is in this case smaller compared to that of Supramaxes, further evidence of the strong appetite Buyers have for such units. A representative example of this can be found in comparing the end of January transaction involving the “KEY SPRING” (80kdwt built ’12 Japan), which was sold for USD 22.5 million and that of the “SEA ACE” (81kdwt built ’12 China) that fetched USD 18.5 million 5 weeks later, a difference of 21%.
As far as Supramax and Panamax vessels built in early 2000, the number of sale candidates is substantially bigger mainly on the back of very low interest by Chinese buyers for 15-year old vessels with inspections and concluded deals on their side concerning almost exclusively vessels trading in the Far East. Talking about 15-year old vessels, the interest Greek buyers have been showing for Capesize candidates of this age is indeed very notable as up until the sale of the “AQUABEAUTY” (171kdwt built ’03 Japan) nobody really believed such interest even existed.
The second quarter of the year, set to kick off in a few weeks, is traditionally considered a strong quarter for bulkers and it will be interesting to see how asset values and interest across the different sizes evolves then.
By Giannis Andritsopoulos
SnP Broker
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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Wednesday, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
Monday, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
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Showing 1776 to 1780 news of total 6871 |
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- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
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