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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, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- The University of Queensland
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Independent Power Producers Association of India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
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