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