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