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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, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
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, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
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Showing 1386 to 1390 news of total 6871 |
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- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
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