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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, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
Tuesday, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
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- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- The University of Queensland
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
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