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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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Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
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