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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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- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
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