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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As far as younger vessels are concerned, we saw a number of candidates being withdrawn from the market due to the substantial gap between Sellers’ and Buyers’ ideas.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, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
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- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
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