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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, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
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- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- The University of Queensland
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
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