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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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Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
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