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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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Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
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- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Planning Commission, India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Australian Coal Association
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
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