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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, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Australian Coal Association
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
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