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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Australian Coal Association
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Videocon Industries ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
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