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Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
 This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which is evidenced by the numerous transactions being concluded lately. We are seeing an increased number of vessels being inspected and a substantial number of vessels also being negotiated as we speak.
In the dry bulk sector and in view of the recent increased supply of market candidates, we are seeing a slight softening in values despite the satisfactory freight rates. The period market has not been as firm as in the previous weeks, but we notice that owners feel reluctant to fix their vessels amidst a sideways/slightly negative performance of the freight market.
The same reservedly optimistic sentiment is also evident on the SnP side. We are noticing that a number of buyers are keen to acquire a vessel, with focus on those built 2008 onwards. Greek buyers have been very active, particularly in Supramax sector, as they still see values at attractive levels.
Following three rounds of inspections, the ‘MAEMI SPIRIT’ (53,482dwt-blt ‘08, Japan) is now reported sold to Greek buyers for a price in the region of $11.2m, a level significantly lower than the $13.05m the ‘NIKKEI DRAGON’ (52,950dwt-blt ‘09, Japan) managed to obtain the prior week. In the Kamsarmax sector, Greek buyers are reported to have bought the ‘PRIME LILY’ (81,507dwt-blt ‘12, S. Korea) for a price in the region of $20.6m, basis delivery Atlantic, which would justify the premium on price and we compare this to the ‘JAG ARYA’ (81,000dwt-blt ‘11, S. Korea), which was sold to Greek buyers, for a price in the region of $18.95m a few weeks ago.
In the tanker sector and in view of the recent increase in freight rates, particularly on the crude side, buying interest is now becoming more apparent. Two Aframaxes the ‘DHT CATHY’ (119,928dwt-blt ‘04, S. Korea) and the ‘DHT SOPHIE’ (112,045dwt-blt ‘03, S. Korea) have been sold for a price in the region of $12.4m and $11.9m respectively to Greek buyers. A number of similar aged ships are now inviting offers and we expect to report more on them within the next couple of weeks.
As far as MR tankers are concerned, the ‘NORD INNOVATION’ (47,981dwt-blt ‘10, Japan) has been sold for a price in the region of $17.2m to Turkish buyers (c/o Densay) after seven buyers inspected her in Rotterdam. The fact that the vessel will be delivered with surveys passed and BWTS installed has affected her final price that is higher compared to the last done.
Additionally, we are noticing that banks are also becoming more optimistic on the tanker sector with increasing talk of financing for bigger vessels as well, possibly seeing the same opportunities they saw on the dry bulk side when the sector was slowly coming out of its lows in the not-too-distant past.
One thing is certain, the SnP market will maintain everyone’s interest vivid in the coming winter and it looks like buying opportunities are still present in both sectors.
By Vasilis Moiris
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
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, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
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- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
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