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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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Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
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- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
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