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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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Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
...
Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
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- Planning Commission, India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Australian Coal Association
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Eastern Coal Council - USA
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