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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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Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
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- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- PTC India Limited - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
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