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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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Tuesday, 15 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 Co ...
Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Planning Commission, India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
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