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