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