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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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Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
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Showing 1626 to 1630 news of total 6871 |
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- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
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