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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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Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
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- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- The University of Queensland
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
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