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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, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
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