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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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Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
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- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
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