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Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
 Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besides the exhibition includes a number of conferences, receptions and events that will once again be attended by a truly international crowd. While the preparation fever is expected to hold, market developments keep taking place on the dry bulk side, with activity so far in the year shaping expectations for what could be probably coming ahead as well. Since the beginning of 2018 we count around 230 second-hand sales on the dry bulk sector, which is a healthy number indeed, while newbuilding contracting has also seen steady numbers.
Out of those 230 bulkers that changed hands during the past months, 100 where built in China. Most of the buying interest focused on Handysize up to Ultramax tonnage, with this dwt range counting 160 sales. Indeed buyers where showing much more interest in inspecting such vessels compared to Panamaxes and Capes.
A 2007 built Handysize vessel for example had lured the interest of 6 different buyers, while during the same period a ten year old Panamax had only seen interest by three parties. This also explains why Handysize asset values have been moving upwards during the past two-three months. We recently saw a 38kdwt non-Japanese bulk carrier built in 2011 being sold for USD 11.3 million and a 33kdwt Japanese unit built in the same year fetching more that USD 15 million. Both these prices are indicative of the increasing popularity Handysize vessels above 33kdwt are currently enjoying.
Interest has also been witnessed for Supramax/Ultramax candidates. Chinese built Supras in particular have witnessed a lot of activity, with prices inching up as a result compared to the beginning of the year. Japanese tonnage of this deadweight range has also been popular. The Supramax second-hand market has been somewhat split in two different categories, both enjoying firm momentum. On one hand small Supras (50-52kdwt) built in the early 2000’s that were sold to Chinese owners just in time for CCS import and on the other hand bigger vessels (55dwt+) built during the years 2006-2012 that have been particularly popular as well. A representative example of the later is the sale of the M/V DARYA VISHNU (56kdwt, blt’ 06 Japan that was sold for a price in excess of USD 13 million. About a year ago a sister ship of the M/V DARYA VISHNU had fetched circa USD 10 million, while the same vessel was sold at the end of 2017 slightly above USD 11.5 million.
Depending on the condition of the vessel and its respective surveys position, the appreciation in Japanese Supramax vessels since the beginning of the year is calculated at around 20%. It will also be very interesting to see how asset prices for Japanese Supras built 2009 onwards will shape given the fact that there are very few candidates fitting the above description. We recently saw the M/V EM SAPPHIRE (54kdwt, blt ’09 Japan), one of the very few candidates within this age range, being sold close to USD 15 million.
Prices appear to be on the rise again and the performance of the freight market during the summer season will definitely help shape expectations for the last quarter of the year.
By George Iliopoulos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
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- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
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