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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, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
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