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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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Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Planning Commission, India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- PTC India Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
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