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Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
 Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the market. Whatever the case may be, it seems that at least for now soft sentiments belongs to the past, with both the spot and period market steadily firming. Given the improvement in sentiment, it is normal that appetite in the SnP would also increase, while besides interest from specific ship-owners that were looking to invest for a while now, there is also interest from new Buyers who are encouraged by the performance of the freight market.
Focusing on the past couple of weeks, there are rumours that a K-Line Aframax, namely the ‘SINGAPORE RIVER’ (115,126dwt-blt ‘09, Japan) with SS/DD due in March 2019, was committed at $23.5 million, whereas, in June during Posidonia, Bergshav purchased a sister vessel from the same sellers, namely the ‘SENTOSA RIVER’ (115,146dwt-blt ‘08, Japan), for a price in the region of $19.0 million, which translates to an impressive increase of around 17% in less than six months (including yearly depreciation for the age difference).
Another noticeable sale is that of the ‘TOLEDO SPIRIT’ (159,342dwt-blt ‘05, S. Korea), where almost ten Greek Buyers inspected the vessel and competed aggressively, with the vessel eventually changing hands for $19.0 million.
On the MR side the improvement is also evident. In the beginning of October the Doun Kisen vessel, namely the ‘HIGH ENTERPRISE’ (45,967dwt-blt ‘09, Japan), was sold to Greek owners, Spring Marine, for a price in the region of $13.95 million. A month after this deal, the same owner sold the ‘SILVER EXPRESS’ (47,401dwt-blt ‘09, Japan), for a price in the region of $15.3 million, while during the past week the ‘HIGH PEARL’ (48,023dwt-blt ‘09, Japan), was reported sold for a price of $16.0 million.
We expect SnP interest in the sector to remain firm at least for as long as earnings remain around the healthy levels of late and given that there will be no wild volatility in the freight market during this winter we should also see additional premiums on future deals, especially in high quality tonnage of up to ten years of age.
By Giannis Andritsopoulos
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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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- White Energy Company Limited
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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