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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, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
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- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- PTC India Limited - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
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