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