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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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Thursday, 21 June 18
CHINESE REDUCED COAL IMPORT RESTRICTIONS - CAIXIN GLOBAL
Caixin Global reported that the Chinese government has reduced restrictions on coal imports at the nation’s major ports in response to concer ...
Thursday, 21 June 18
INDIAN GOVERNMENT ADMITS COAL SHORTAGE, ASKS DISCOMS TO IMPORT - TIMES OF INDIA
Times of India reported that the power ministry has advised all state governments and private power distribution companies to import coal as Coal I ...
Tuesday, 19 June 18
WCA RESPONDS TO BP STATISTICAL REVIEW OF WORLD ENERGY 2018
Responding to BP’s Statistical Review of World Energy 2018, Benjamin Sporton, Chief Executive of the World Coal Association (WCA) said, &ldqu ...
Wednesday, 13 June 18
U.S. COAL PRODUCTION TO DECLINE BY 2% TO 756 MILLION SHORT TONS MMST IN 2018 - EIA
EIA forecasts U.S. coal production to decline by 2% to 756 million short tons (MMst) in 2018.
According to EIA's Short-Term Ener ...
Wednesday, 13 June 18
SHIPPING MARKET INSIGHT - SOPHIE COTZIAS
2018 marks quite a few milestones for Greek Shipping. No need to detail again the greatness of Greek Shipping or the singular position that Greek s ...
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- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
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