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Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
 It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential buyers remains robust while there is no sign of values softening in the short term.
In the Kamsarmax sector the BWTS fitted ‘NORD DESTINY’ (83,684dwt-blt ‘08, Japan) is reported sold at low $14.0m to Greek buyers. The price falls in line with expectations as the slightly older ‘RED LOTUS’ (83,007dwt-blt ‘06, Japan) was recently sold at region $12.5m.
Furthermore, the Panamax ‘ETERNAL GRACE’ (76,585dwt-blt ‘06, Japan) has been reported sold at $9.6m to Chinese buyers. The price is reflective of the fact that the vessel is not fitted with BWTS hence cannot call USA ports despite her good survey position due in 2021. There is a fair demand for Panamax & Kamsarmax bulkers of this age in the market with few ships being under the process of inspections these days and we expect to be able to report more in the coming weeks.
In the Supramax sector, activity has been slower as most buyers have focused on the larger tonnage as result of the spike in freight rates. Nevertheless, clients of Eagle Bulk Shipping have been at the forefront this week as they have announced the acquisition of 6 x SDARI 64 Ultramax bulkers built 2015-2016 in China for $122m en-bloc. Identity of the vessels has yet to be disclosed however it is understood that 4 of them are fitted with scrubbers.
Additionally, clients of Oman Shipping are reported to continuing their dry bulk fleet renewal as they are tipped to have committed 2 x 64,000dwt Zhoushan Changhong Ultramax resales at $23.0m a piece. Moreover, following the recent sale of ‘SINAR KUTAI’ (57,334dwt-blt ‘11, S. Korea) at region $11.0m, we now understand the Indonesian owners have also committed the sister ‘SINAR KAPUAS’ (57,334dwt-blt ‘11, S. Korea) at similar levels.
As far as tankers are concerned, there is still firm interest from buyers both in the crude and product sectors where most sales were reported this week. In the crude sector all eyes are on the VLCC ‘ORIENTAL JADE’ (306,352dwt-blt ‘04, Japan), which is inspectable next week and we hear that a number of buyers is already lined up to inspect her.
In the products side, we are hearing that the Japanese controlled pump room type ‘EAGLE EXPRESS’ (45,902dwt-blt ‘10, Japan) has been committed to clients of Union Maritime at region $16.3m, which shows a slight softening in values compared to recent sales.
Formosa Plastics are reported to have disposed yet another zinc coated MR tanker, the ‘FPMC 23’ (50,999dwt-blt ‘10, S. Korea) at a price close to $15.0m to Greek buyers. Sellers have recently sold the sister to different Greek buyers at slightly lower figures.
By Vasilis Moiris
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.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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Monday, 24 June 24
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- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
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