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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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Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. Howev ...
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- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
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