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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, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- The University of Queensland
- Trasteel International SA, Italy
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
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