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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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Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
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- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Parliament of New Zealand
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
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