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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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Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
Thursday, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
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- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
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