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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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Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing da ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Thursday, 12 July 18
SUPRAMAX: INDO/CHINA COAL RV IS BEING FIXED AROUND USD 10500 BSS SINGAPORE - FEARNLEYS
Capesize
Cape market continue to be extremely volatile says Fearnleys in its latst weekly report.
The further noted that, last week ended wi ...
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- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
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