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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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Monday, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Planning Commission, India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
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