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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, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
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