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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- MS Steel International - UAE
- Planning Commission, India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Central Electricity Authority - India
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