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Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the market for over a month. Despite this, sales activity remains limited as we are approaching the end of the year and as new regulations are about to come into effect in about a month’s time, with owners being in a wait and see mode until there is less ambiguity in the market.
The ratio of asset prices over earnings is still fairly attractive relative to previous years, creating a potentially interesting environment for investments. At the same time and despite the recent back and forth, it seems that the long awaited agreement between USA-China that will end the trade war between the two countries and will enhance support to the sector is finally approaching.
Orderbooks across the dry bulk sector are also at low levels. Market volatility throughout the year and uncertainty over the effect of the new regulations hampered ordering activity throughout the year so far, while we have also witnessed increased scrapping compared to 2018.
As far as recent sales activity in the Capesize sector is concerned, we are hearing that the larger Azul Fortuna (203kdwt, blt’05 Universal) has been committed at USD 15,8mill, which is a softer price compared to the one year older Azul Integrity that was sold for the same price about a month ago. After her previous sale did not materialize and following a second round of inspections, the Panamax Coral Emerald (76kdwt, blt’07 Sanoyas) is reported sold for USD 11mill. This also a softer price of about USD650k compared to the last done, which also comes as a result of the recent drop in freight rates.
While the market outlook in tankers is brighter with rates being at healthy levels for some time now, the number of sales is limited in view of lack of available tonnage for sale and the increase in asset values. Nevertheless, there is still firm interest for middle aged crude tankers, while a number of buyers are currently active in the product sector. After the last month’s spike in values we see that prices have flattened, while freight rates remain robust amid the winter season and on-going sanctions that have affected supply in the last couple of months. Greek buyers c/o Monte Nero Maritime are reported to have bought the Aframax Seaways Fran (112kdwt, blt’01 Hyundai) at USD 13.6mill, a price which falls in line with recent activity in the sector.
Overall, we expect December to be quiet in terms of activity in both sectors, with Buyers taking a step back and re-evaluating their strategy following this admittedly interesting year in terms of SnP trends.
By Vasilis Moiris
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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Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
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- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
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