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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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Tuesday, 10 July 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
The trade dispute saga continued over the past week, as new tariffs were put into force on Friday in both the U.S. and China and have already taken ...
Tuesday, 10 July 18
SUPPORTING SULPHUR 2020 CONSISTENT IMPLEMENTATION - IMO
An IMO working group is meeting (9-13 July) to develop guidelines to support the consistent implementation of the 0.50% limit for the sulphur conte ...
Monday, 09 July 18
RISING COAL PRICES LIFTING AUSTRALIA'S EXPORT REVENUES BUT INVESTORS STAYING AWAY - NEWCASTLE HERALD
Newcastle coal prices have risen more than 40 per cent in a year to be at their highest levels for seven years but the industry is becoming increas ...
Saturday, 07 July 18
SUPRAMAX: THE ASIAN MARKET STRUGGLED; A 57K-DWT WAS REPORTED FIXED BASIS DELIVERY SINGAPORE FOR A TRIP VIA INDONESIA REDELIVERY INDIA AT $12K
Capesize
A punchy week for the big ships that saw Atlantic rates soar, with the tonnage list tight prompting charterers to split cargoes, thoug ...
Friday, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
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- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
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