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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, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
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- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Sical Logistics Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
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