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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, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
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- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
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