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Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
 This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, ranging from MRs to VLs, changing hands, an increase of around 21% compared to the same period last year.
After a strong start in the first quarter, the freight market went through a significant softening particularly in the case of the crude carriers while the smaller/clean sizes performed significantly better. Overall sentiment remains bullish for the rest of the year, both in terms of freights as well as asset values. On the chartering side we see owners having high ideas for long term period charters and on the S&P front we see most ships being sold at a premium over last done.
Firm interest can be observed in the MR tanker segment, with a lot of ships changing hands during the past couple of months. Recently, we had the sale of MT High Sun (Hyundai Vinashin 50k 2014) for $28.7m to Ditas from Turkey; a firm price compared to the March reported sale of the same age/quality Korean built MRs that Glencore sold to JP Morgan for $27.5m (MT Alpine Mary & Alpine Maria, SPP 50k 2014). On the 10-year old ships, after the sales of the MT Unique Explorer (Onomichi 50k 2010) that was sold to Palonji Shipping from India for $17.5m and the Japanese owned MT Fidelity II (Iwagi 47k 2011) that was sold for $18.25m to Maersk Tankers last month, we see a handful of buyers that are looking for similar units and willing to go the extra mile to put their hands on fresh tonnage.
Hence we expect the bullish buyers to remain active and asset values to move further north as a result. On the Japanese 15 year old pumproom ships with surveys due, we also had the sales of the MT High Power (Naikai 47k 2004) and the MT Uacc Strait (Shin Kurushima 46k 2004) for $8.6m and $8.75m respectively and expect to see more vessels being sold soon. Finally we note that Sinokor’s Korean deepwell ships, the MT Security and the MT Tenacity (Hyundai 47k 2004) were sold for $9.75m basis surveys passed.
Regarding Aframax and VLCCs, what depicts the bullish sentiment in today’s S&P market is the lack of 10 year old or younger quality tonnage available for sale with several buyers waiting to compete over the next candidate. We note the sale of the MT Maersk Jeddah and the MT Maersk Jamnagar (Sumitomo 105k 2011) committed at a firm price of $30.3m each, potentially to Greek buyers whose main interest is in the dry bulk shipping market. The auction of the MT Brightoil Lion (Tsuneishi 107k 2010) and the MT Brightoil Grace (Hyundai 320k 2013) that were recently under the hammer also drew a lot of attention. What is noticeable is that although auction sales usually attract interest due to the nature of the sale being distressed, several large tanker owners offered healthy prices, with the VLCC being sold for $61.5m, while 10 parties offered on the Aframax that is rumored sold at region $26m.
All in all, activity is high, sentiment remains bullish and many owners argue that the healthy SnP market we experienced in 2019 is just the beginning of the so called “IMO Story” that has started to play out and will come in full effect coming into Q4 2019.
By Ilias M. Lalaounis
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
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- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
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