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Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
 Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the market. Whatever the case may be, it seems that at least for now soft sentiments belongs to the past, with both the spot and period market steadily firming. Given the improvement in sentiment, it is normal that appetite in the SnP would also increase, while besides interest from specific ship-owners that were looking to invest for a while now, there is also interest from new Buyers who are encouraged by the performance of the freight market.
Focusing on the past couple of weeks, there are rumours that a K-Line Aframax, namely the ‘SINGAPORE RIVER’ (115,126dwt-blt ‘09, Japan) with SS/DD due in March 2019, was committed at $23.5 million, whereas, in June during Posidonia, Bergshav purchased a sister vessel from the same sellers, namely the ‘SENTOSA RIVER’ (115,146dwt-blt ‘08, Japan), for a price in the region of $19.0 million, which translates to an impressive increase of around 17% in less than six months (including yearly depreciation for the age difference).
Another noticeable sale is that of the ‘TOLEDO SPIRIT’ (159,342dwt-blt ‘05, S. Korea), where almost ten Greek Buyers inspected the vessel and competed aggressively, with the vessel eventually changing hands for $19.0 million.
On the MR side the improvement is also evident. In the beginning of October the Doun Kisen vessel, namely the ‘HIGH ENTERPRISE’ (45,967dwt-blt ‘09, Japan), was sold to Greek owners, Spring Marine, for a price in the region of $13.95 million. A month after this deal, the same owner sold the ‘SILVER EXPRESS’ (47,401dwt-blt ‘09, Japan), for a price in the region of $15.3 million, while during the past week the ‘HIGH PEARL’ (48,023dwt-blt ‘09, Japan), was reported sold for a price of $16.0 million.
We expect SnP interest in the sector to remain firm at least for as long as earnings remain around the healthy levels of late and given that there will be no wild volatility in the freight market during this winter we should also see additional premiums on future deals, especially in high quality tonnage of up to ten years of age.
By Giannis Andritsopoulos
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, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- Economic Council, Georgia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- The University of Queensland
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
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