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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, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
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- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
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