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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, 09 March 18
U.S. EXPORTED 97 MMST OF COAL IN 2017, A 61 PER CENT INCREASE FROM 2016 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.1 million short tons ...
Thursday, 08 March 18
BUMA SIGNED OVER US$ 500 MILLION WORTH OF NEW CONTRACT WITH PT TANAH BUMBU RESOURCES
PT Delta Dunia Makmur Tbk., announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into mining services ...
Thursday, 08 March 18
THE ENERGY CONTRIBUTION FROM COAL-BASED POWER PLANTS IS LIKELY TO INCREASE TO 1072 BU BY 2021-22 : PIB
Government of India has set an ambitious target of 175 GW from Renewable energy sources (RES) by 2022, which comprises of 100 GW Solar, 60GW from W ...
Thursday, 08 March 18
SUPRAMAX: THE MARKET IS STILL GOING STRONG IN THE PACIFIC - FEARNLEYS
Supramax
The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore run ...
Thursday, 08 March 18
AVERAGE U.S. COAL MINING PRODUCTIVITY INCREASES AS PRODUCTION FALLS - EIA
Coal mining productivity in the United States increased 26% over the past five years, reaching 6.8 tons per miner hour in 2017, up from 5.4 tons pe ...
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- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
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