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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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Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
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- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- PTC India Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
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