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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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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
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