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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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Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
Sunday, 18 November 18
COAL STOCKS IN A THIRD OF NTPC PLANTS CLOSE TO NIL - FINANCIAL EXPRESS
Coal supply shortage continues to haunt NTPC, the country’s largest power generator, with latest government data showing 31% of the company&r ...
Thursday, 15 November 18
OIL MARKET REPORT: HEEDING THE WARNINGS - IEA
In last month’s Report, we noted that since the middle of the year oil supply had increased sharply, with gains in the Middle East, Russia an ...
Wednesday, 14 November 18
BIMCO ADOPTS 2020 BUNKER CLAUSES
BIMCO has developed two 2020 bunker clauses that deal with general compliance and the transitional period for an early December release.
...
Wednesday, 14 November 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The shipping industry is going through an interesting period across all markets. Since the end of last year, the Dry Baltic Index has been showing ...
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- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
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