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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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Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
...
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- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- ASAPP Information Group - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
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