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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
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