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Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
 It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential buyers remains robust while there is no sign of values softening in the short term.
In the Kamsarmax sector the BWTS fitted ‘NORD DESTINY’ (83,684dwt-blt ‘08, Japan) is reported sold at low $14.0m to Greek buyers. The price falls in line with expectations as the slightly older ‘RED LOTUS’ (83,007dwt-blt ‘06, Japan) was recently sold at region $12.5m.
Furthermore, the Panamax ‘ETERNAL GRACE’ (76,585dwt-blt ‘06, Japan) has been reported sold at $9.6m to Chinese buyers. The price is reflective of the fact that the vessel is not fitted with BWTS hence cannot call USA ports despite her good survey position due in 2021. There is a fair demand for Panamax & Kamsarmax bulkers of this age in the market with few ships being under the process of inspections these days and we expect to be able to report more in the coming weeks.
In the Supramax sector, activity has been slower as most buyers have focused on the larger tonnage as result of the spike in freight rates. Nevertheless, clients of Eagle Bulk Shipping have been at the forefront this week as they have announced the acquisition of 6 x SDARI 64 Ultramax bulkers built 2015-2016 in China for $122m en-bloc. Identity of the vessels has yet to be disclosed however it is understood that 4 of them are fitted with scrubbers.
Additionally, clients of Oman Shipping are reported to continuing their dry bulk fleet renewal as they are tipped to have committed 2 x 64,000dwt Zhoushan Changhong Ultramax resales at $23.0m a piece. Moreover, following the recent sale of ‘SINAR KUTAI’ (57,334dwt-blt ‘11, S. Korea) at region $11.0m, we now understand the Indonesian owners have also committed the sister ‘SINAR KAPUAS’ (57,334dwt-blt ‘11, S. Korea) at similar levels.
As far as tankers are concerned, there is still firm interest from buyers both in the crude and product sectors where most sales were reported this week. In the crude sector all eyes are on the VLCC ‘ORIENTAL JADE’ (306,352dwt-blt ‘04, Japan), which is inspectable next week and we hear that a number of buyers is already lined up to inspect her.
In the products side, we are hearing that the Japanese controlled pump room type ‘EAGLE EXPRESS’ (45,902dwt-blt ‘10, Japan) has been committed to clients of Union Maritime at region $16.3m, which shows a slight softening in values compared to recent sales.
Formosa Plastics are reported to have disposed yet another zinc coated MR tanker, the ‘FPMC 23’ (50,999dwt-blt ‘10, S. Korea) at a price close to $15.0m to Greek buyers. Sellers have recently sold the sister to different Greek buyers at slightly lower figures.
By Vasilis Moiris
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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- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
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