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