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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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Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
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- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- White Energy Company Limited
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bhushan Steel Limited - India
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