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