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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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- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
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