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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, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- The University of Queensland
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
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