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Wednesday, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
 Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually expected to lead to improved asset prices as well. The sentiment on the tanker side is evidently less positive, with buyers taking a step back until a good asset play opportunity arises in view of an admittedly suppressed market.
Activity in the dry bulk sector has been overall firm despite the scarcity of available modern candidates in the market. The lack of sale candidates and the increasing freight market has already pushed values higher in some cases and as we are going into the grain season out of South America this is expected to continue.
Chinese buyers are back in buying mode – more conservative this time though - and are selectively bidding for early ‘00s built tonnage for import purposes. As buyers have a number of options to choose from and as values have recently remained flat in these ages, sales activity remains stable.
Nevertheless, buyers’ appetite remains strong thus this may be a good timing for new acquisitions in view of improving market levels. Comparatively, newbuilding activity has been steady but has not reached excessive volumes, possibly on the back of the uncertainty of the Tier III regulations that has made yards hesitant to commit new designs.
With regards to demolition, as a result of the ‘healthy’ freight rates and despite the current strong demo prices, owners are reluctant to scrap their ships and we have even recently noted increased interest from buyers in pre-2000 built vessels, mainly for Handysize up to Panamax bulkers with a number of transactions being concluded.
On the other hand, in the tanker sector activity remains flat but with some signs of improvement in view of current low values. The products sector has been more active recently with a couple of reported transactions at firming levels and with buyers mostly focusing on vessels built in the last 5-10 years. Period rates in the sector have also been relatively stable, providing some security to owners.
This has not been the case for crude carriers where the extensive pressure the spot market has been witnessing throughout the bigger part of the winter season is now also manifesting on period numbers. Indeed the crude carriers sector is relatively quiet but this may change in the foreseeable future as we are seeing some demolition activity – particularly in the VLCC sector for post ‘00s built units – in recent weeks.
As second hand values appear to have bottomed out – at least for now - and with most owners still reluctant to sell at current price levels, any ‘realistic’ market candidate attracts the interest of a number of buyers looking for a good asset play move. The lack of modern tonnage has resulted in a shift of buying interest towards vessels of around 15 year old of age, the values of which are now substantially closer to the LDT of the respective ships and any slight uptick in freight rates could prove profitable.
By Vasilis Moiris
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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Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
Tuesday, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
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Showing 1761 to 1765 news of total 6871 |
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- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- White Energy Company Limited
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
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