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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, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
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- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- The University of Queensland
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
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