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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, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
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, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
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- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
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