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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, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
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- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
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