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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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- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
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