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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, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
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Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
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Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
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The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
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- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- The University of Queensland
- ASAPP Information Group - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
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