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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Australian Coal Association
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
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