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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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Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
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- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
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