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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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Monday, 09 September 19
ULTRAMAX: ASIA A 58,000-TONNER FIXED DELIVERY FUZHOU, VIA INDONESIA, REDELIVERY CHINA, AT $12,800
Capesize
0px The market reached new heights this week as the 5TC topped $38,014, a level not seen in the sector since 2013. Fridays 5TC closed ...
Wednesday, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Planning Commission, India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
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