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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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Wednesday, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
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- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
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