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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, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
Thursday, 02 August 18
INDO / CHINA COAL RV'S IS PAYING AROUND USD 11,000 TO SUPRAS BSS DELIVERY SINGAPORE - FEARNLEYS
Capesize
The counter seasonally strong market during the summer months bodes well for the remainder of the year.
According ...
Wednesday, 01 August 18
JOKOWI CANCELS PLAN TO REVOKE COAL DMO - JP
President Joko "Jokowi" Widodo on Tuesday has canceled the government’s plan to revoke the domestic market obligation (DMO) for coa ...
Wednesday, 01 August 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to ...
Tuesday, 31 July 18
INDONESIA UNLIKELY TO CHANGE COAL SUPPLY, PRICING RULES UNTIL 2019 - REUTERS
Indonesia is unlikely to change its rules on domestic coal supply and pricing until 2019, Coordinating Maritime Minister Luhut Pandjaitan said on M ...
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- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Australian Coal Association
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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