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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
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- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Goldman Sachs - Singapore
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
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