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