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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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Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
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- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
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