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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 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
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