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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 $17.2m to Turkish buyers (c/o Densay) after seven buyers inspected her in Rotterdam. The fact that the vessel will be delivered with surveys passed and BWTS installed has affected her final price that is higher compared to the last done.
Additionally, we are noticing that banks are also becoming more optimistic on the tanker sector with increasing talk of financing for bigger vessels as well, possibly seeing the same opportunities they saw on the dry bulk side when the sector was slowly coming out of its lows in the not-too-distant past.
One thing is certain, the SnP market will maintain everyone’s interest vivid in the coming winter and it looks like buying opportunities are still present in both sectors.
By Vasilis Moiris
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
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SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
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- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
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