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Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
 Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past three weeks, with the number of potential Buyers having decreased noticeably. Despite this recent slowdown, interest in second-hand tonnage has been undeniable, evidenced by the 100 deals that have concluded from the beginning of July up until the first days of September, which concerns all dry bulk sizes from small Handies built in the 90’s to modern Kamsarmax and Capesize vessels.
An important observation is that, with very few exceptions (presence of a COA, private equity funding etc.) where buyers will offer levels close to Sellers’ ideas, we usually see owners inspecting and offering at much lower levels compare to the asking price. If this trend continues in the following weeks as well, it will naturally affect asset prices negatively.
Another important factor that is currently shaping the SnP market and the respective asset values in the dry bulk sector, is that with the exception of very modern Japanese tonnage (usually built 2013 onwards), there is an obvious abundance of sale candidates in the market, with built date ranging from 1998 up to 2012. This allows perspective Buyers to keep testing the market, which means that they will offer at – sometimes significantly – lower levels compared to the asking price, feeling assured that if their offer is not accepted by the respective Seller, they will divert their interest to the next similar available candidate.
A representative example of this trend can be found in the Supramaxes built in Cebu from 2005 until 2010. There are at least 10 such vessels currently in the market either on private basis or officially. The respective interest for such vessels though is currently not sufficient for these candidates to be sold and that is why each of these candidates sees a maximum of 2-3 Buyers inspecting them. Another example of the ample supply of bulkers currently available for sale is that of Japanese Panamax and Kamsarmax vessels built during 2004-2008, with around 15 such vessels currently available for sale and maximum 4 Buyers keen for such tonnage.
Aside from the above trend, the appetite displayed during the past months by Chinese and Middle Eastern buyers for vessels built in the late 90’s is also notable. Handysize vessels and loggers in particular have indeed seen demand spiking up, with some of these candidates achieving impressive numbers indeed when compared to younger candidates of the same size. A representative example in this case is a ’98 built Handy that was recently sold for USD 5.5 million, while another Handy half the age achieved USD 8.4 million.
As far as bulkers built in the 90’s are concerned, there is also an oversupply of vessels in the market for sale, with more than 20 Handy/Handymax candidates built from 1995 up to 1999 currently looking for Buyers. Saying this, we do believe that most of these Sellers are more interested in finding out how the market values their respective ship and less in actually selling them.
The above trends could easily change if the freight market strengthens during the last quarter of the year, in which case we do expect to see more Buyers and many of the vessels currently up for sale being withdrawn.
George Iliopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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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Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the mar ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
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Showing 1541 to 1545 news of total 6871 |
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- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- The University of Queensland
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
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