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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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Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
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- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
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