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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, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
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Showing 1381 to 1385 news of total 6871 |
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- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- The University of Queensland
- London Commodity Brokers - England
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
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