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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, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
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