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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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Friday, 09 March 18
U.S. EXPORTED 97 MMST OF COAL IN 2017, A 61 PER CENT INCREASE FROM 2016 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.1 million short tons ...
Thursday, 08 March 18
BUMA SIGNED OVER US$ 500 MILLION WORTH OF NEW CONTRACT WITH PT TANAH BUMBU RESOURCES
PT Delta Dunia Makmur Tbk., announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into mining services ...
Thursday, 08 March 18
THE ENERGY CONTRIBUTION FROM COAL-BASED POWER PLANTS IS LIKELY TO INCREASE TO 1072 BU BY 2021-22 : PIB
Government of India has set an ambitious target of 175 GW from Renewable energy sources (RES) by 2022, which comprises of 100 GW Solar, 60GW from W ...
Thursday, 08 March 18
SUPRAMAX: THE MARKET IS STILL GOING STRONG IN THE PACIFIC - FEARNLEYS
Supramax
The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore run ...
Thursday, 08 March 18
AVERAGE U.S. COAL MINING PRODUCTIVITY INCREASES AS PRODUCTION FALLS - EIA
Coal mining productivity in the United States increased 26% over the past five years, reaching 6.8 tons per miner hour in 2017, up from 5.4 tons pe ...
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- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
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