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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
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