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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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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
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- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- MS Steel International - UAE
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
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