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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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Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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Showing 1366 to 1370 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- Mercator Lines Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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