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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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Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
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- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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