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