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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, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
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- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Planning Commission, India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
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