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