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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, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
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