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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As far as younger vessels are concerned, we saw a number of candidates being withdrawn from the market due to the substantial gap between Sellers’ and Buyers’ ideas.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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Monday, 08 April 19
SULPHUR 2020 - COUNTDOWN TO THE SWITCHOVER - LLOYD'S REGISTER
Sulphur 2020 (MARPOL Annex VI Reg. 14.1.3) is still dominating headlines and as we draw closer to the 1 January 2020 deadline it’s clear that ...
Monday, 08 April 19
INDONESIAN COAL PRICE REFERENCE PRICE PLUMMETS TO LOW NOT SEEN SINCE AUGUST 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Sunday, 07 April 19
SHIP PASSAGE PLANS - NO ROOM FOR ERROR! - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The English High Court’s judgment in Alize 1954 v Allianz Elementar Versicherungs AG (The CMA CGM Libra) is an impo ...
Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
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- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
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