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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, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
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