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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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Thursday, 11 January 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS FIXING AT AROUND $10K - FEARNLEYS
Supramax
USG rates improved both for backhaul and fronthaul, Ultras from USG to Japan receiving around $26k daily while supras 1-2k less for same ...
Wednesday, 10 January 18
2018: IT IS PROJECTED, THE SHIPBUILDERS WILL DELIVER FOUR HUNDRED FORTY NEW VESSELS IN 2018
Headlines from IMF's 2017 – World Economic Outlook:
January 2017 - “After a lacklustre outturn in 2016, economic activity is p ...
Tuesday, 09 January 18
INDONESIAN GOVERNMENT DECLARED COAL REFERENCE PRICE UP IN JANUARY
COALspot.com: the Indonesian Coal Price Reference ( HBA) rose 1.60 per cent in January 2018, the latest ministerial decree showed.
The benchma ...
Friday, 05 January 18
U.S. WEEKLY COAL OUTPUT FELL 32.4% PER CENT WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 10.5 million short tons ...
Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
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- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- PTC India Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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