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Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
 As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segments that proved to be the most popular as well as on which Buyers were the most active.
On the dry bulk side and more specifically in the deadweight range from Handysize up to Cape, we have on record more than 230 sales since the beginning of the year, with Greek and Chinese buyers dominating activity. Chinese buyers have been focusing more on vessels built during 2000-2005, although there has been some considerable interest for modern vessels as well, while Greek buyers were mainly looking at modern tonnage from five up to twelve years.
During the past three months we have seen more than 50 vessels – mainly Handymax, Supramax and Panamax- built during 1997-2005 ending up in Chinese hands. Candidates built between 2000 and 2004 witnessed the most substantial pressure on prices. The reason why values for 15-year old and 20-year old vessels were the ones facing the biggest discounts was due to the fact that there was an oversupply of such vessels in the market, with most owners deciding to sell at best ahead of the respective Special Survey and Dry Docking.
As far as younger vessels are concerned, we saw a number of candidates being withdrawn from the market due to the substantial gap between Sellers’ and Buyers’ ideas. Indeed, we saw a number of Japanese owners that are traditionally considered firm Sellers, who instead of selling at a discount to the last done, they have maintained their price ideas waiting for a market recovery that would eventually result in higher bids from Buyers that are currently reluctant to pay the premium.
On the tanker side, we have seen a substantially smaller number of vessels changing hands since the beginning of the year compared to bulkers. In around 150 sales that we have on record since January, we see that focus has been mainly on vessels of 10 years or younger with the freight market, which resisted much better to pressure compared to dry bulkers at most times, giving more confidence to buyers that supported asset prices as a result. Additionally we could say that price ideas were in line with the market, while most of the candidate vessels have seen substantial interest in the market.
Two representative examples of this trend is a recent 5-year MR candidate that was inspected by five buyers, as well as a 10-year old Aframax that received interest by more than six different parties. At the same time older tankers, built between 2003 and 2007 are also receiving fair interest, with around 70 sales on record since the start of the year.
By George Iliopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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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Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
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