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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
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