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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, 06 July 17
SUPRAMAX: INDO TO INDIA TRIPS WITH DELIVERY THAILAND RANGE IS GIVING OWNERS AROUND MID $8000 - FEARNLEYS
Supramax
Another slow start to the week with somewhat softening rates and few fixtures.
According to Fearnleys Weekly Dry bulk report, the N ...
Thursday, 06 July 17
UNEXPECTED MOVE FROM CHINA BOOSTS COAL PRICES - OIL PRICE
Coal prices have been cooling the last few months — after a spectacular run last year. But news late last week suggests the market is about t ...
Wednesday, 05 July 17
COAL PRICES ROSE IN CHINA, JAPAN AND EUROPE IN 2016 - BP
COALspot.com: Coal prices rose in China, Japan and Europe in 2016 after four years of price declines.
According to bp, the rise in coal prices ...
Wednesday, 05 July 17
TANKER MARKET INSIGHT - KATERINA RESTIS
A war of words blasted last month as the UAE, S. Arabia, Egypt and Bahrain revealed that they are experiencing severe diplomatic issues with the st ...
Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
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Showing 2011 to 2015 news of total 6871 |
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- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Economic Council, Georgia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Planning Commission, India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
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