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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Parliament of New Zealand
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
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