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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, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
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- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
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