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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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- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Australian Coal Association
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
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