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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, 09 May 19
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Tuesday, 07 May 19
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Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
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Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
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- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- The University of Queensland
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
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