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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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Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
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- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Economic Council, Georgia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Planning Commission, India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- White Energy Company Limited
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
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