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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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Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- MS Steel International - UAE
- London Commodity Brokers - England
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
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