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Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising performance of Capes which, coming from a historical low, managed to reach a five and a half year high within a 3 month period, with the rest of the sizes following the same path, thus creating a positive sentiment. With regards to the SnP, buying interest is stronger than the first quarter of 2019, with the number of transactions having correspondingly increased and SnP values displaying a soft upward trend without excluding the scenario for a bullish increase on values; even if this were to happen during the traditionally quieter August. While the majority of Greek Ship-owners are focusing their attention on the lists of vessels that are available for sale that are younger than 15 years old. It is therefore our opinion that, provided that the dry bulk market continues at these healthier levels, this will automatically increase the chance for older vessels to get sold. This will in turn create the necessary conditions for a possible re-investment, either by renewing fleets with younger vessels or by investing into a different segment.
Regarding Handysize bulkers, from the 52 vessels that were built prior to 2000, the majority of them were bought after 2010, with most of the sales being recorded around 2016 when asset values were at historical lows, making it an easy option to sell. With regards to post 2000 Handies, the majority of them are vessels of 28,000 dwt and with the current value for a Japanese built 2003-2004, which is around low-mid $5.0m and for vessels 2013 built at around low-mid $8.0m, the conditions are looking favourable for a possible fleet renewal. Handymaxes – with an increased concentration of pre-2000 built vessels, will, due to the sheer number of vessels as well as their age, be form a large pool of sale candidates for the near future.
On the post 2000 Handymaxes, the competition and the pressure from bigger Supras of similar age on the chartering front, could be a critical factor in the decision of selling. On Supras and Panamaxes – with most of the owners possessing a company with a fleet of more than 3-4 vessels, the driving force in a potential fleet renewal will be the strategic approach from owners to renew the age of their existing fleet . On Capes – it is important to note that 1/3 of the vessels are newbuilding deliveries placed by the same owners, who have traded these vessels for over 15 years – including the golden years of the dry market- which points to self-evident inferences.
All in all, we expect the Greek market to become an important hub for vessels available for sale in the short run, especially in the age limits that were analysed above, without anyone objecting to the possibility of the continuous increase on freight rates becoming a prohibiting factor for ship owners to sell.
By Nassos Soulakis
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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Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
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- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
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