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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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Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
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- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- PTC India Limited - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
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