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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, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
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- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
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