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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, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
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Showing 1616 to 1620 news of total 6871 |
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- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
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