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Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
 We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the belief that we will witness better rates in the industry.
Within a short period of two to three months, this momentum of healthy rates has intrigued many ship-owners to have a look at the possibility in purchasing a vessel. The uncertainty and mistrust of the market has not yet disappeared but it has shrunk compared to the previous months.
In the Capesize sector, we saw during the spring the total collapse of the market, where owners who wanted to sell were flirting with the idea of scrapping. Suddenly, within a few weeks the market reversed to healthy rates, with vessels being fixed in the spot market at around $37,000/day and values being around 20% up from the previous months. Thus, buying interest was focused on vessels that are five and ten years old. An example is the “NORD STEEL” (180,230dwt-blt ‘07, Japan), where more than five buyers inspected. In addition, after a few months, the vessels that were actually for sale could be counted on one hand for ages five up to fifteen years old.
In the Panamax sector, with the support from the chartering and from the continuous increase of the BDI, we saw increasing interest from many ship-owners for vessels that are around fifteen years old, that are considered by many as money makers. Moreover, on Panamaxes the SnP transaction of the “CLIPPER VICTORY” (77,119dwt-blt ‘15, Japan) is noteworthy, which was sold to a Greek owner, Eastern Mediterranean, for a price in the region of $21.0m. Usually, on these SnP transactions, it is typical to have interest for vessels with a deadweight in excess of 80,000 tonnes, however the price of the asset makes it a tempting deal.
In the Supramax sector after the sale of the “KESTREL I” (50,351dwt-blt ‘04, Japan), which was sold Taiwanese buyers for a price in the region of $7.3m, many buyers, including Greeks, have recently focused on purchasing vessels in excess of 50,000dwt up to 54,000dwt, built around 2000. The reason is that the value of these vessels has decreased and they are not willing to pay the premium for vessels over 56,000dwt. Lastly, In Supras that are around ten years old, there are plenty of available candidates for sale but buying interest is limited, as many believe that with these prices you cannot cover the investment.
Handies have not followed the upward trend of the freight market in recent months. Regarding values of the 28,000dwt vessels, they are still at low levels and it looks like they cannot tempt or attract Handy owners. The same can be identified with regards to the Chinese Handies from 32,000dwt up to 37,000dwt. In the Japanese Handies with capacities exceeding 32,000dwt, the market is more encouraging as after the sale of the “IKAN JERUNG” (31,760dwt-blt ‘09, Japan) we have witnessed a reluctant interest for vessels with three generators and following that, for vessels with two generators with the example of the “C. S. STAR” (33,000dwt-blt ‘11, Japan), which was sold to Greek buyers with a total of four inspecting the vessel.
By Giannis Andritsopoulos
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, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
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EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
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The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
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