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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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Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- VISA Power Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
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