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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 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
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Showing 1411 to 1415 news of total 6871 |
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- Sojitz Corporation - Japan
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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