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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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Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
Sunday, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
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- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- The University of Queensland
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
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