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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Minerals Council of Australia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
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