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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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Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
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- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Australian Coal Association
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
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