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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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Friday, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
Tuesday, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
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Showing 1791 to 1795 news of total 6871 |
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- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
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