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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, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
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- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Australian Coal Association
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
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