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Wednesday, 01 August 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
 The dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to the dry bulk rates, which were stable and sometimes softening along with a considerable decrease of the volume on SnP transactions.
The Handy market was soft and there were no positive signs, due to the fact that asset prices were at low levels until the Easter holidays. Following Easter, we saw that values started to increase from that time until Posidonia with aggressive buyers being firm to purchase vessels. When the “ex-CIELO DI TOKYO” (37,296 dwt-blt ’08, Japan) was sold in May a correction on prices followed. Hence, as is normal, this changed the position of buyers from firm to one of monitoring and waiting on how the market will perform.
Regarding Supras, there are still the usual suspects who noticeably purchased vessels during the past year and remain firm to continue purchasing. The values of the previous months, until the sale of the “FORTUNE UNITY” (53,472 dwt-blt ‘06, Japan), which was sold for $10.5m were stable in the aforementioned levels and had a downward trend for Japanese tonnage. However, last week we saw the vessel of Doun Kissen “NAVIOS ARMONIA” (55,522 dwt-blt ’08, Japan), being committed for $14.2m.
On the other hand, Chinese Supras with the price difference from Japanese Supras (around 30%) attracted Supra buyers and the last three weeks there has been strong interest from Chinese buyers who are interested in Tier II Supras for import.
With the recently introduced regulations in regards to the Chinese flag, the SnP market has a mixed picture of the past 4 weeks, and the consequent change of plans for sellers that own a vessel built between 2001-2003 and as well as for Chinese buyers who are now focusing on Tier II vessels.
As far as Panamaxes and Kamsarmaxes, we can spot limited interest in regards to modern vessels as well as in vessels being built between 2005–2007, despite there being numerous vessels for sale. For Chinese Kasmarmaxes, we witnessed big competition for the Toisa Kamsarmaxes, because of the attractive discount, which made even owners that were focusing on Japanese tonnage to reconsider and to take the chance of purchasing a cheap Chinese Kamsarmax.
Lastly, it is interesting to take a look at the tanker market, as despite an absence of strong competition, some interesting deals took place lately. We saw a VLCC with Japanese flag built ’04 being sold for $22.0m., an Aframax built ’08 being sold for $19.5m and during the last weeks there is a lot of interest in MRs with the majority of the buyers being Greek.
The stable asset prices together with the increase on wet tonnage will most probably lead to interesting opportunities into second-hand tonnage.
By Giannis Andritsopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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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Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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