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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, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
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- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
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