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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, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
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