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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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Thursday, 21 June 18
ROBUST ASIAN THERMAL COAL DEMAND CREATES OPPORTUNITIES FOR AUSTRALIA - MINERALS COUNCIL OF AUSTRALIA
Minerals Council of Australia reported, Australia’s world-class coal mining industry can create more jobs in Australia and strengthen t ...
Thursday, 21 June 18
CHINESE REDUCED COAL IMPORT RESTRICTIONS - CAIXIN GLOBAL
Caixin Global reported that the Chinese government has reduced restrictions on coal imports at the nation’s major ports in response to concer ...
Thursday, 21 June 18
INDIAN GOVERNMENT ADMITS COAL SHORTAGE, ASKS DISCOMS TO IMPORT - TIMES OF INDIA
Times of India reported that the power ministry has advised all state governments and private power distribution companies to import coal as Coal I ...
Tuesday, 19 June 18
WCA RESPONDS TO BP STATISTICAL REVIEW OF WORLD ENERGY 2018
Responding to BP’s Statistical Review of World Energy 2018, Benjamin Sporton, Chief Executive of the World Coal Association (WCA) said, &ldqu ...
Wednesday, 13 June 18
U.S. COAL PRODUCTION TO DECLINE BY 2% TO 756 MILLION SHORT TONS MMST IN 2018 - EIA
EIA forecasts U.S. coal production to decline by 2% to 756 million short tons (MMst) in 2018.
According to EIA's Short-Term Ener ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
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