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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, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
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