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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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Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
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- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
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