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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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Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Marubeni Corporation - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
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