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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, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
Tuesday, 26 June 18
"ALWAYS ACCESSIBLE": ARRIVAL, DEPARTURE OR BOTH? - INCE & CO
KNOWLEDGE TO ELEVATE
An “always accessible” berth warranty is often used by an owner to transfer the risk of delays in berthing to ...
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- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- GMR Energy Limited - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Planning Commission, India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- White Energy Company Limited
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
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