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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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Tuesday, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
Tuesday, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
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- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Economic Council, Georgia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
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