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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, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
Tuesday, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
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- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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