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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, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
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- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Deloitte Consulting - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
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