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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Economic Council, Georgia
- ASAPP Information Group - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Bhatia International Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
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