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