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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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Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
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- Heidelberg Cement - Germany
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- White Energy Company Limited
- India Bulls Power Limited - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
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