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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, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
Monday, 19 November 18
SUPRAMAX: THE BSI CONTINUED TO FALL LAST WEEK, ESPECIALLY THE ASIAN ROUTES - BALTIC BRIEFING
Capesize
After a cut throat couple of weeks, the market finally appeared to have found a floor and rates ticked up. Those analysts that predict ...
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- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- The University of Queensland
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
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