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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, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
Modern warfare - Trade wars & sanctions
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Monday, 13 May 19
INDONESIAN COAL PRICE REFERENCE CONTINUES TO FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 13 May 19
SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
Cape
The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week& ...
Thursday, 09 May 19
DEEP OFFSHORE SOUTHEAST ASIA CONGRESS 2019
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Location: Jakarta, Indonesia
Sarawak Shell Berhad (S ...
Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
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- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Videocon Industries ltd - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
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