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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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Wednesday, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
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- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
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