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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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Tuesday, 05 June 18
SOUTH KOREA'S SULPHUR CAP ALTERS ASIAN COAL MARKET DYNAMICS: RUSSELL
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the pollutin ...
Tuesday, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
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- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
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