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Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
 The new regulations for Chinese flag restricting import of Tier I ships have dominated market sentiment during the past days as buyers have been trying to secure vessels with very prompt delivery (by end of July).
We have seen a number of reported deals not going through in the end due to buyers’ uncertainty in regards to whether it is feasible to register the vessels within time. Indeed, as we get closer to the effective date of September 1st and the deadline becomes tighter, it appears unlikely to see more activity coming from this type of buyers. These developments have had an impact in the second hand S&P market as ocean going buyers are taking a stand still to monitor the impact in vessels’ values.
Nonetheless, there are still buyers willing to invest in modern vessels where the Chinese have not been active. Most interest is drawn into the Supramax-Ultramax sectors where we have been seeing the majority of the activity.
Most notably, Greek owners are reported to be the ones buying the freshly drydocked “NAVIOS ARMONIA” (55,522dwt-blt ’08 Kawasaki) at levels in excess of USD 14 million, which shows some robustness in asset values. Additionally, USA buyers are reported to have bought the Dolphin 64 “BAO TONG” (63,800dwt-blt ’14 Chengxi) at USD 21.3 million, a price pretty much in line with recent activity in the sector.
The situation on the tanker side is still somewhat different from the dry sector. Rates remain close to historically low levels in some cases, with the effect on asset values being evident. Buyers are seizing the opportunity to buy modern ships at the current lows with a view to benefit from any freight rate increase in the future that will also give a boost to prices as a result.
Iraqi buyers AISSOT are reported to be paying USD 88 million for each of the BW’s 2018 Samsung VLCC resales with hull numbers 2229 & 2230. The Japanese controlled VLCC “BRIGHT HARMONY” (309,774dwt-blt ’09 Imabari) is understood to have been sold at USD 41.5 million to Greek buyers.
As we are getting closer to the peak of the summer season and in view of the above developments, it will be interesting to see how buyers will react. In the dry bulk sector the different indices seem to be stabilizing and slowly gaining momentum as we are seeing more and more grain exports coming out of Brazil as a result of the trade war between USA and China. USA grain prices are at the same time falling day by day as the largest importer China - up till now at least - has not been buying, prompting others to seize this opportunity.
As far as tankers are concerned, despite the fact that rates remain flat for now, we expect any modern tonnage coming for sale to get sold without too much difficulty as a number of buyers seem keen to invest in today’s low values.
By Vasilis Moiris
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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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Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
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- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- The University of Queensland
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
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