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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, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
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- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
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