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