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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, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
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- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Australian Coal Association
- White Energy Company Limited
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
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