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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As far as younger vessels are concerned, we saw a number of candidates being withdrawn from the market due to the substantial gap between Sellers’ and Buyers’ ideas.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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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
Tuesday, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
...
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- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Aditya Birla Group - India
- ICICI Bank Limited - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
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