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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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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Australian Coal Association
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- PTC India Limited - India
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