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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, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
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- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Posco Energy - South Korea
- White Energy Company Limited
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
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