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