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