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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, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
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