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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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Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
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