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Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
 As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segments that proved to be the most popular as well as on which Buyers were the most active.
On the dry bulk side and more specifically in the deadweight range from Handysize up to Cape, we have on record more than 230 sales since the beginning of the year, with Greek and Chinese buyers dominating activity. Chinese buyers have been focusing more on vessels built during 2000-2005, although there has been some considerable interest for modern vessels as well, while Greek buyers were mainly looking at modern tonnage from five up to twelve years.
During the past three months we have seen more than 50 vessels – mainly Handymax, Supramax and Panamax- built during 1997-2005 ending up in Chinese hands. Candidates built between 2000 and 2004 witnessed the most substantial pressure on prices. The reason why values for 15-year old and 20-year old vessels were the ones facing the biggest discounts was due to the fact that there was an oversupply of such vessels in the market, with most owners deciding to sell at best ahead of the respective Special Survey and Dry Docking.
As far as younger vessels are concerned, we saw a number of candidates being withdrawn from the market due to the substantial gap between Sellers’ and Buyers’ ideas. Indeed, we saw a number of Japanese owners that are traditionally considered firm Sellers, who instead of selling at a discount to the last done, they have maintained their price ideas waiting for a market recovery that would eventually result in higher bids from Buyers that are currently reluctant to pay the premium.
On the tanker side, we have seen a substantially smaller number of vessels changing hands since the beginning of the year compared to bulkers. In around 150 sales that we have on record since January, we see that focus has been mainly on vessels of 10 years or younger with the freight market, which resisted much better to pressure compared to dry bulkers at most times, giving more confidence to buyers that supported asset prices as a result. Additionally we could say that price ideas were in line with the market, while most of the candidate vessels have seen substantial interest in the market.
Two representative examples of this trend is a recent 5-year MR candidate that was inspected by five buyers, as well as a 10-year old Aframax that received interest by more than six different parties. At the same time older tankers, built between 2003 and 2007 are also receiving fair interest, with around 70 sales on record since the start of the year.
By George Iliopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
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Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
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Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
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