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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As far as younger vessels are concerned, we saw a number of candidates being withdrawn from the market due to the substantial gap between Sellers’ and Buyers’ ideas.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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Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Cement Manufacturers Association - India
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