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Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
 Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past three weeks, with the number of potential Buyers having decreased noticeably. Despite this recent slowdown, interest in second-hand tonnage has been undeniable, evidenced by the 100 deals that have concluded from the beginning of July up until the first days of September, which concerns all dry bulk sizes from small Handies built in the 90’s to modern Kamsarmax and Capesize vessels.
An important observation is that, with very few exceptions (presence of a COA, private equity funding etc.) where buyers will offer levels close to Sellers’ ideas, we usually see owners inspecting and offering at much lower levels compare to the asking price. If this trend continues in the following weeks as well, it will naturally affect asset prices negatively.
Another important factor that is currently shaping the SnP market and the respective asset values in the dry bulk sector, is that with the exception of very modern Japanese tonnage (usually built 2013 onwards), there is an obvious abundance of sale candidates in the market, with built date ranging from 1998 up to 2012. This allows perspective Buyers to keep testing the market, which means that they will offer at – sometimes significantly – lower levels compared to the asking price, feeling assured that if their offer is not accepted by the respective Seller, they will divert their interest to the next similar available candidate.
A representative example of this trend can be found in the Supramaxes built in Cebu from 2005 until 2010. There are at least 10 such vessels currently in the market either on private basis or officially. The respective interest for such vessels though is currently not sufficient for these candidates to be sold and that is why each of these candidates sees a maximum of 2-3 Buyers inspecting them. Another example of the ample supply of bulkers currently available for sale is that of Japanese Panamax and Kamsarmax vessels built during 2004-2008, with around 15 such vessels currently available for sale and maximum 4 Buyers keen for such tonnage.
Aside from the above trend, the appetite displayed during the past months by Chinese and Middle Eastern buyers for vessels built in the late 90’s is also notable. Handysize vessels and loggers in particular have indeed seen demand spiking up, with some of these candidates achieving impressive numbers indeed when compared to younger candidates of the same size. A representative example in this case is a ’98 built Handy that was recently sold for USD 5.5 million, while another Handy half the age achieved USD 8.4 million.
As far as bulkers built in the 90’s are concerned, there is also an oversupply of vessels in the market for sale, with more than 20 Handy/Handymax candidates built from 1995 up to 1999 currently looking for Buyers. Saying this, we do believe that most of these Sellers are more interested in finding out how the market values their respective ship and less in actually selling them.
The above trends could easily change if the freight market strengthens during the last quarter of the year, in which case we do expect to see more Buyers and many of the vessels currently up for sale being withdrawn.
George Iliopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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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Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
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Showing 1606 to 1610 news of total 6871 |
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- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Planning Commission, India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
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