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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
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