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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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Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
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