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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, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
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- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
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