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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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Marubeni Corporation - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Georgia Ports Authority, United States
- White Energy Company Limited
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
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