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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
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
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Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
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Tuesday, 06 August 24
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
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
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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- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Planning Commission, India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
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