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Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
 This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which is evidenced by the numerous transactions being concluded lately. We are seeing an increased number of vessels being inspected and a substantial number of vessels also being negotiated as we speak.
In the dry bulk sector and in view of the recent increased supply of market candidates, we are seeing a slight softening in values despite the satisfactory freight rates. The period market has not been as firm as in the previous weeks, but we notice that owners feel reluctant to fix their vessels amidst a sideways/slightly negative performance of the freight market.
The same reservedly optimistic sentiment is also evident on the SnP side. We are noticing that a number of buyers are keen to acquire a vessel, with focus on those built 2008 onwards. Greek buyers have been very active, particularly in Supramax sector, as they still see values at attractive levels.
Following three rounds of inspections, the ‘MAEMI SPIRIT’ (53,482dwt-blt ‘08, Japan) is now reported sold to Greek buyers for a price in the region of $11.2m, a level significantly lower than the $13.05m the ‘NIKKEI DRAGON’ (52,950dwt-blt ‘09, Japan) managed to obtain the prior week. In the Kamsarmax sector, Greek buyers are reported to have bought the ‘PRIME LILY’ (81,507dwt-blt ‘12, S. Korea) for a price in the region of $20.6m, basis delivery Atlantic, which would justify the premium on price and we compare this to the ‘JAG ARYA’ (81,000dwt-blt ‘11, S. Korea), which was sold to Greek buyers, for a price in the region of $18.95m a few weeks ago.
In the tanker sector and in view of the recent increase in freight rates, particularly on the crude side, buying interest is now becoming more apparent. Two Aframaxes the ‘DHT CATHY’ (119,928dwt-blt ‘04, S. Korea) and the ‘DHT SOPHIE’ (112,045dwt-blt ‘03, S. Korea) have been sold for a price in the region of $12.4m and $11.9m respectively to Greek buyers. A number of similar aged ships are now inviting offers and we expect to report more on them within the next couple of weeks.
As far as MR tankers are concerned, the ‘NORD INNOVATION’ (47,981dwt-blt ‘10, Japan) has been sold for a price in the region of $17.2m to Turkish buyers (c/o Densay) after seven buyers inspected her in Rotterdam. The fact that the vessel will be delivered with surveys passed and BWTS installed has affected her final price that is higher compared to the last done.
Additionally, we are noticing that banks are also becoming more optimistic on the tanker sector with increasing talk of financing for bigger vessels as well, possibly seeing the same opportunities they saw on the dry bulk side when the sector was slowly coming out of its lows in the not-too-distant past.
One thing is certain, the SnP market will maintain everyone’s interest vivid in the coming winter and it looks like buying opportunities are still present in both sectors.
By Vasilis Moiris
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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- PTC India Limited - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
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