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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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Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
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- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- The University of Queensland
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
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