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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, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Wednesday, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
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- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Planning Commission, India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
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