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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As far as younger vessels are concerned, we saw a number of candidates being withdrawn from the market due to the substantial gap between Sellers’ and Buyers’ ideas.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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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
Tuesday, 19 February 19
AUSTRALIA'S COAL FUTURE UNDER THREAT AS MORE CHANGES HIT FOSSIL FUELS GLOBALLY - ABC
Two disparate decisions from opposite corners of the world have sounded warnings for the future of Australia’s coal industry.
...
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- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Planning Commission, India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
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