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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, 11 December 18
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- Georgia Ports Authority, United States
- Minerals Council of Australia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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