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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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Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the mar ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
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- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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