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Wednesday, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
 Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker rates were at healthy levels and above OPEX-CAPEX levels which, coupled with low asset prices, created an entry for potential investors to achieve attractive margins.
After almost four months, the view of that insight appears to have been accurate, as we observed numerous ship-owners who, having adopted the strategic approach to invest in MRs, benefited from the low asset prices together with the slightly improved freight rates compared to Q1.
To put things into perspective, Q2 saw an increase of around 42% on SnP transactions compared to Q1, although this what not followed by an equally sharp increase in earnings. Representative examples of recent SnP transactions during this period are the sales of the ‘NORD INDEPENDENCE’ (48,005dwt-blt 10, Japan) and the ‘NORD INTEGRITY’ (48,026dwt-blt 10, Japan), which were sold last month with only a few weeks difference for a price of $18.0m and $17.5m respectively.
When comparing the aforementioned sales with that of the ‘MARE CARIBBEAN’ (46,718dwt-blt 04, S. Korea), which was sold at the end of March for a price of $17.5m, we can observe a certain degree of stability on asset prices that seems to have persisted throughout the first half of the year.
Looking at available tonnage throughout the year so far and more specifically at vessels up to 15 years of age, there has been steadily a number of around 25 to 30 available units considered as eligible sale candidates, which combined with various private units, has been an ideal pool of choices for perspective Buyers.
Taking all of the above into account, it quickly becomes apparent that asset prices are stable at attractive levels despite the increased interest for MR tonnage. Furthermore, there is still the possibility for selective transactions within the MR segment.
Looking at the table above and more specifically the order-book to the fleet ratio for vessels that are above 15 years of age, it seems that the outlook in terms of tonnage supply is fairly healthy when compared to sizes like Panamax/LR1 and Aframax/LR2, estimated at around 102% and 72% respectively.
If one was to add to the balanced supply aspect that of the relatively steady freight market and of course the increased buying interest in the sector, it seems like the MR size remains a rather attractive investment at the moment.
By Nassos Soulakis
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
Wednesday, 09 August 17
THE KEY IMPORTERS OF U.S. COAL FOR THE FIRST FIVE MONTHS OF 2017 ARE THE NETHERLANDS, INDIA AND JAPAN - PETER SAND, BIMCO
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total vo ...
Wednesday, 09 August 17
INDONESIAN COAL PRICE REFERENCE INCREASE COULD CONTINUE IN THE COMING MONTHS
COALspot.com: Indonesian coal benchmark price rose 6.36% in August, government data showed.
The benchmark price of Indonesian thermal ...
Wednesday, 09 August 17
COAL HAS GAINED AROUND 40% OVER THE PAST TWELVE MONTHS; IRON ORE HAS MOVED FROM AROUND $50/T IN AUGUST 2016 TO OVER $70/T TODAY - INTERMODAL
During the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enj ...
Tuesday, 08 August 17
THE BULLISH RIDE CONTINUES ON FOR THE IRON ORE MARKET - GEORGE LAZARIDIS
The bullish ride continues on for the iron ore market, with most in the market now eyeing the possibility for further gains to be had as Chine ...
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Showing 1976 to 1980 news of total 6871 |
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- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
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