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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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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
...
Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Petron Corporation, Philippines
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Malabar Cements Ltd - India
- The University of Queensland
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
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