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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, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
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- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- VISA Power Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
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