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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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Tuesday, 25 December 18
FUEL QUALITY AND SAFETY IN IMO CONVENTIONS: A GROWING CHALLENGE, EVEN PRIOR TO 1 JANUARY 2020 - IUMI
At the 100th session of the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) meeting discussions on fuel quality a ...
Monday, 24 December 18
DRY BULK MARKET: CAPESIZE MARKET ON BACKFOOT AS 2018'S END DRAWS NEAR - THE BALTIC BRIEFING
Capesize
Panic set in in the East as the holiday season approaches, with owners chasing rates lower. Rates on the key West Australia/China route ...
Friday, 21 December 18
4.2 MILLION DWT OF DRY BULK SHIPS SCRAPPED UNTIL 17 DEC, DOWN 71.6% Y/Y - BIMCO
2018 has been a slow year for dry bulk demolitions, with only 4.2 million DWT scrapped (as of 17 December), down 71.6% compared to last year. An al ...
Thursday, 20 December 18
INDONESIAN COAL PRICES DIVERGE FROM KEY BENCHMARK - FITCH RATINGS
The Newcastle 6,000kcal coal price benchmark that is widely used to determine most coal price estimates for Indonesian coal miners has increasingly ...
Wednesday, 19 December 18
CHINA'S IMPORT RESTRICTIONS ON COAL SPOILS THE PARTY FOR PANAMAXES - DREWRY
The Chinese government’s objective of suppressing coal and lignite imports in November and December 2018 is adversely impacting demand for Pa ...
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- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Australian Coal Association
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
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