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