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