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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
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