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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, 06 April 18
TOP MINER BHP QUITS WORLD COAL ASSOCIATION OVER CLIMATE CLASH - BLOOMBERG
BHP Billiton Ltd. has severed ties with the World Coal Association over a clash of views on how to combat climate change, with the mining giant say ...
Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
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- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Planning Commission, India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
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