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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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Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
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- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
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