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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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Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
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Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
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- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Planning Commission, India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
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