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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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Tuesday, 10 July 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
The trade dispute saga continued over the past week, as new tariffs were put into force on Friday in both the U.S. and China and have already taken ...
Tuesday, 10 July 18
SUPPORTING SULPHUR 2020 CONSISTENT IMPLEMENTATION - IMO
An IMO working group is meeting (9-13 July) to develop guidelines to support the consistent implementation of the 0.50% limit for the sulphur conte ...
Monday, 09 July 18
RISING COAL PRICES LIFTING AUSTRALIA'S EXPORT REVENUES BUT INVESTORS STAYING AWAY - NEWCASTLE HERALD
Newcastle coal prices have risen more than 40 per cent in a year to be at their highest levels for seven years but the industry is becoming increas ...
Saturday, 07 July 18
SUPRAMAX: THE ASIAN MARKET STRUGGLED; A 57K-DWT WAS REPORTED FIXED BASIS DELIVERY SINGAPORE FOR A TRIP VIA INDONESIA REDELIVERY INDIA AT $12K
Capesize
A punchy week for the big ships that saw Atlantic rates soar, with the tonnage list tight prompting charterers to split cargoes, thoug ...
Friday, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
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- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
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