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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, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- White Energy Company Limited
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
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