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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, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing da ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
The new regulations for Chinese flag restricting import of Tier I ships have dominated market sentiment during the past days as buyers have been tr ...
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- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
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