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As far as younger vessels are concerned, we saw a number of candidates being withdrawn from the market due to the substantial gap between Sellers’ and Buyers’ ideas.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