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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, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
Friday, 08 March 19
KOMIPO INVITES BIDS FOR 2.6 MILLION TONS OF AUSTRALIAN 5700 NAR COAL FOR FIVE YEARS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Australian origin to be burnt ...
Friday, 08 March 19
CHINA'S COAL DEMAND FORECAST TO DROP SLOWLY - YONHAP
China’s coal demand is expected to fall at a snail’s pace over the next 20 years due to the country’s preference for the cheap fo ...
Thursday, 07 March 19
INDONESIAN COAL PRICE REFERENCE PLUNGE TO LOWEST IN SEVEN MONTHS
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 March 19
KOSPO INVITES BIDS FOR 80,000 MT OF 3800 NCV COAL FOR 21 - 30 MARCH, 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 80,000 MT of min 3,800 kcal/kg NCV low calor ...
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- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
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