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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, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
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- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
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