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