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Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
 We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the belief that we will witness better rates in the industry.
Within a short period of two to three months, this momentum of healthy rates has intrigued many ship-owners to have a look at the possibility in purchasing a vessel. The uncertainty and mistrust of the market has not yet disappeared but it has shrunk compared to the previous months.
In the Capesize sector, we saw during the spring the total collapse of the market, where owners who wanted to sell were flirting with the idea of scrapping. Suddenly, within a few weeks the market reversed to healthy rates, with vessels being fixed in the spot market at around $37,000/day and values being around 20% up from the previous months. Thus, buying interest was focused on vessels that are five and ten years old. An example is the “NORD STEEL” (180,230dwt-blt ‘07, Japan), where more than five buyers inspected. In addition, after a few months, the vessels that were actually for sale could be counted on one hand for ages five up to fifteen years old.
In the Panamax sector, with the support from the chartering and from the continuous increase of the BDI, we saw increasing interest from many ship-owners for vessels that are around fifteen years old, that are considered by many as money makers. Moreover, on Panamaxes the SnP transaction of the “CLIPPER VICTORY” (77,119dwt-blt ‘15, Japan) is noteworthy, which was sold to a Greek owner, Eastern Mediterranean, for a price in the region of $21.0m. Usually, on these SnP transactions, it is typical to have interest for vessels with a deadweight in excess of 80,000 tonnes, however the price of the asset makes it a tempting deal.
In the Supramax sector after the sale of the “KESTREL I” (50,351dwt-blt ‘04, Japan), which was sold Taiwanese buyers for a price in the region of $7.3m, many buyers, including Greeks, have recently focused on purchasing vessels in excess of 50,000dwt up to 54,000dwt, built around 2000. The reason is that the value of these vessels has decreased and they are not willing to pay the premium for vessels over 56,000dwt. Lastly, In Supras that are around ten years old, there are plenty of available candidates for sale but buying interest is limited, as many believe that with these prices you cannot cover the investment.
Handies have not followed the upward trend of the freight market in recent months. Regarding values of the 28,000dwt vessels, they are still at low levels and it looks like they cannot tempt or attract Handy owners. The same can be identified with regards to the Chinese Handies from 32,000dwt up to 37,000dwt. In the Japanese Handies with capacities exceeding 32,000dwt, the market is more encouraging as after the sale of the “IKAN JERUNG” (31,760dwt-blt ‘09, Japan) we have witnessed a reluctant interest for vessels with three generators and following that, for vessels with two generators with the example of the “C. S. STAR” (33,000dwt-blt ‘11, Japan), which was sold to Greek buyers with a total of four inspecting the vessel.
By Giannis Andritsopoulos
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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- The Treasury - Australian Government
- The University of Queensland
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Planning Commission, India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Minerals Council of Australia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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