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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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Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
Tuesday, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
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- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- The Treasury - Australian Government
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