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