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Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising performance of Capes which, coming from a historical low, managed to reach a five and a half year high within a 3 month period, with the rest of the sizes following the same path, thus creating a positive sentiment. With regards to the SnP, buying interest is stronger than the first quarter of 2019, with the number of transactions having correspondingly increased and SnP values displaying a soft upward trend without excluding the scenario for a bullish increase on values; even if this were to happen during the traditionally quieter August. While the majority of Greek Ship-owners are focusing their attention on the lists of vessels that are available for sale that are younger than 15 years old. It is therefore our opinion that, provided that the dry bulk market continues at these healthier levels, this will automatically increase the chance for older vessels to get sold. This will in turn create the necessary conditions for a possible re-investment, either by renewing fleets with younger vessels or by investing into a different segment.
Regarding Handysize bulkers, from the 52 vessels that were built prior to 2000, the majority of them were bought after 2010, with most of the sales being recorded around 2016 when asset values were at historical lows, making it an easy option to sell. With regards to post 2000 Handies, the majority of them are vessels of 28,000 dwt and with the current value for a Japanese built 2003-2004, which is around low-mid $5.0m and for vessels 2013 built at around low-mid $8.0m, the conditions are looking favourable for a possible fleet renewal. Handymaxes – with an increased concentration of pre-2000 built vessels, will, due to the sheer number of vessels as well as their age, be form a large pool of sale candidates for the near future.
On the post 2000 Handymaxes, the competition and the pressure from bigger Supras of similar age on the chartering front, could be a critical factor in the decision of selling. On Supras and Panamaxes – with most of the owners possessing a company with a fleet of more than 3-4 vessels, the driving force in a potential fleet renewal will be the strategic approach from owners to renew the age of their existing fleet . On Capes – it is important to note that 1/3 of the vessels are newbuilding deliveries placed by the same owners, who have traded these vessels for over 15 years – including the golden years of the dry market- which points to self-evident inferences.
All in all, we expect the Greek market to become an important hub for vessels available for sale in the short run, especially in the age limits that were analysed above, without anyone objecting to the possibility of the continuous increase on freight rates becoming a prohibiting factor for ship owners to sell.
By Nassos Soulakis
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
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
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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- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
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