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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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Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
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- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- White Energy Company Limited
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
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