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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As far as younger vessels are concerned, we saw a number of candidates being withdrawn from the market due to the substantial gap between Sellers’ and Buyers’ ideas.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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Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
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- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- GVK Power & Infra Limited - India
- The University of Queensland
- Economic Council, Georgia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- PTC India Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
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