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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, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
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- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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