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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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Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
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