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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, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
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- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
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