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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, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
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- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
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