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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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Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
...
Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
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- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
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