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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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Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
Friday, 06 April 18
TOP MINER BHP QUITS WORLD COAL ASSOCIATION OVER CLIMATE CLASH - BLOOMBERG
BHP Billiton Ltd. has severed ties with the World Coal Association over a clash of views on how to combat climate change, with the mining giant say ...
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- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- The University of Queensland
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
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