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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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Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
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- The University of Queensland
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
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