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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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Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
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- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
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