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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, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
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- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
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