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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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Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
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