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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, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- Australian Coal Association
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
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