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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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- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
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