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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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Thursday, 21 March 19
PRICE PLUNGE AS CHINESE LEAVE THERMAL COAL OUT IN THE COLD - AUSTRALIAN FINANCIAL REVIEW
Thermal coal exporter New Hope Corporation says China’s shipment squeeze on Australia is putting downward pressure on prices in all markets i ...
Wednesday, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
...
Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
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- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- MS Steel International - UAE
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
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