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Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms of sentiment. The so called work horse of the segment, the Panamax that has been very sought after for a short period, is now slowly losing popularity to the increasingly attractive Supramax. Values have risen and dropped in the blink of an eye along with the number of actual buyers.
On the tanker side, appetite was never subdued. From MRs up to VLCC there is an increasing number of investors that inspect, bid and buy across all segments and ages. If we focus on the most resilient type of tanker, which is the MR2 tanker, we can see that with the exception of June and July, monthly SnP transactions have been in the double digits during the past five months. The table below shows exact numbers. (please find attached)
In a total of 61 sales since May, 36 were S. Korean built and 18 were Japanese built. There are no surprises here. Looking at the numbers something interesting to point out is that almost half of these deals concern ships that have been built between 2008 and 2011. So this four year bracket seems to be the sweet spot as far as balancing price and longevity.
Autumn is traditionally a period where charter rates tend to increase. With 12 sales having concluded so far in September, we can see the popularity of MR2s remains at full force. Expectations about the 2020 regulations have provided enough reason for buyers to look for ships in order to take advantage of the anticipated increase of cargoes next year. It remains to be seen if this bet will be won. Having said that, the reality is the resilience of MRs has been remarkable. There were times that many thought that the handy MR tankers will be the way forward or the LR2s. So far both predictions failed to hold truth.
Going back to the sweet spot of vessels that have been built around 2008-2011, values range on average from low $16.0m for a Korean built in 2008 to low $20.0m for a Korean 2011 built. Anything even one year older sees a drop in the value of more than 10%, whereas candidates built post 2011 are asking for a significant premium above. It seems that the market has indeed created expectations for better days but both investors and banks are still not that bullish in order to bet on younger ships.
2020 is just around the corner so we won’t have to wait too long to see how things will unfold and if the 08-11 built vessels will justify their current popularity.
By Timos Papadimitriou
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 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
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