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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, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
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- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- VISA Power Limited - India
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