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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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Monday, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- McConnell Dowell - Australia
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- Samtan Co., Ltd - South Korea
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- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
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- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
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- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
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- Agrawal Coal Company - India
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- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
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- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
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- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
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- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- Deloitte Consulting - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- Global Business Power Corporation, Philippines
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- Bulk Trading Sa - Switzerland
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