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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, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
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- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
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