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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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Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing da ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Thursday, 12 July 18
SUPRAMAX: INDO/CHINA COAL RV IS BEING FIXED AROUND USD 10500 BSS SINGAPORE - FEARNLEYS
Capesize
Cape market continue to be extremely volatile says Fearnleys in its latst weekly report.
The further noted that, last week ended wi ...
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- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- White Energy Company Limited
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Planning Commission, India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
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