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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
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