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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, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
Thursday, 02 August 18
INDO / CHINA COAL RV'S IS PAYING AROUND USD 11,000 TO SUPRAS BSS DELIVERY SINGAPORE - FEARNLEYS
Capesize
The counter seasonally strong market during the summer months bodes well for the remainder of the year.
According ...
Wednesday, 01 August 18
JOKOWI CANCELS PLAN TO REVOKE COAL DMO - JP
President Joko "Jokowi" Widodo on Tuesday has canceled the government’s plan to revoke the domestic market obligation (DMO) for coa ...
Wednesday, 01 August 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to ...
Tuesday, 31 July 18
INDONESIA UNLIKELY TO CHANGE COAL SUPPLY, PRICING RULES UNTIL 2019 - REUTERS
Indonesia is unlikely to change its rules on domestic coal supply and pricing until 2019, Coordinating Maritime Minister Luhut Pandjaitan said on M ...
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- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
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