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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, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
...
Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
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Showing 1446 to 1450 news of total 6871 |
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- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
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