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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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Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
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Showing 1606 to 1610 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Planning Commission, India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
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