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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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Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
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- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Economic Council, Georgia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
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