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