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Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
 Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the market for over a month. Despite this, sales activity remains limited as we are approaching the end of the year and as new regulations are about to come into effect in about a month’s time, with owners being in a wait and see mode until there is less ambiguity in the market.
The ratio of asset prices over earnings is still fairly attractive relative to previous years, creating a potentially interesting environment for investments. At the same time and despite the recent back and forth, it seems that the long awaited agreement between USA-China that will end the trade war between the two countries and will enhance support to the sector is finally approaching.
Orderbooks across the dry bulk sector are also at low levels. Market volatility throughout the year and uncertainty over the effect of the new regulations hampered ordering activity throughout the year so far, while we have also witnessed increased scrapping compared to 2018.
As far as recent sales activity in the Capesize sector is concerned, we are hearing that the larger Azul Fortuna (203kdwt, blt’05 Universal) has been committed at USD 15,8mill, which is a softer price compared to the one year older Azul Integrity that was sold for the same price about a month ago. After her previous sale did not materialize and following a second round of inspections, the Panamax Coral Emerald (76kdwt, blt’07 Sanoyas) is reported sold for USD 11mill. This also a softer price of about USD650k compared to the last done, which also comes as a result of the recent drop in freight rates.
While the market outlook in tankers is brighter with rates being at healthy levels for some time now, the number of sales is limited in view of lack of available tonnage for sale and the increase in asset values. Nevertheless, there is still firm interest for middle aged crude tankers, while a number of buyers are currently active in the product sector. After the last month’s spike in values we see that prices have flattened, while freight rates remain robust amid the winter season and on-going sanctions that have affected supply in the last couple of months. Greek buyers c/o Monte Nero Maritime are reported to have bought the Aframax Seaways Fran (112kdwt, blt’01 Hyundai) at USD 13.6mill, a price which falls in line with recent activity in the sector.
Overall, we expect December to be quiet in terms of activity in both sectors, with Buyers taking a step back and re-evaluating their strategy following this admittedly interesting year in terms of SnP trends.
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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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
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