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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, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
...
Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Minerals Council of Australia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
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