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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, 30 December 18
MAJOR LNG BUYERS' UNCONTRACTED DEMAND TO QUADRUPLE BY 2030 - WOOD MACKENZIE
Wood Mackenzie’s latest research reveals that uncontracted demand by the world’s seven largest LNG buyers could quadruple to 80 million ...
Saturday, 29 December 18
DELIVERY OF CARGO WITHOUT PRODUCTION OF THE ORIGINAL BILL OF LADING - TT CLUB
KNOWLEDGE TO ELEVATE
As the bill of lading is a document of title, a person presenting it to the carrier or its agent is ostensibly entitled t ...
Friday, 28 December 18
BIMCO 2020 SULPHUR CLAUSES: "A FAIR ALLOCATION OF RESPONSIBILITIES AND LIABILITIES'? - INCE & CO.
To assist owners and charterers to address the legal issues arising under any time charterparties, which will span the 1 January 2020 implementatio ...
Thursday, 27 December 18
DRY BULKERS SPOT FREIGHT MARKET W/E 21 DEC - ALLIED SHIPBROKING
Capesize
A negative week for the Capesize sector, as activity remained at low levels, especially in the Pacific, with rumors regarding agreed r ...
Thursday, 27 December 18
SHIPPING IS ENTERING A NEW ERA OF EVER CHALLENGING CONDITIONS - ALLIED
As we move closer to the end of the year and we look forward into New Year, we are still finding ourselves looking deep into a market outlook full ...
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- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
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