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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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- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
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