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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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- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
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