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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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Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
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- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
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