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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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Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
...
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- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
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