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Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
 Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in regards to future prospects, hence buying interest remains particularly reserved. The number of inspections that takes place at the moment is fairly limited, while comparing recent sales of VLCC tonnage to similar sales that took place towards the end of last year, we see that prices are roughly 15% down. With the exception of a few specific deals involving VLCC and Suezmax tonnage, buying interest over in the tanker sector mostly focuses on MR vessels, particularly those units controlled by financiers, while except from the lack of confidence, another major issue that weighs down on SnP activity is the big gap between price levels offered by Buyers and those that are accepted by the Sellers.
Moving on to the demolition market, prices here are also pointing down. At the same time, demo buyers are also becoming more and more reserved in their bids, while despite the fact that prices offered at the moment are without a doubt improved compared to the $220/ldt levels that the market witnessed back in February, we believe that the stability can only be achieved after budget announcements, scheduled in June, take place.
At the same time, the dry bulk SnP market displays signs of strength, with buying interest focusing mainly on Supramax and Kamsarmax tonnage built during the last decade. A representative example of this recent momentum in the market is the M/V UNITED TREASURE (82kdwt blt 06 Japan), which was inspected by more or less fifteen (!) buyers. The healthier freight market, combined with improved psychology and of course the aforementioned firming appetite by Buyers, have provided support to asset prices for vessels close to 10 years of age. We calculate this increase in the region of 15%-20% compared to price ideas for similar vessels back in the beginning of the spring season.
Similarly, buyers are also looking with increased interest tonnage built around the end of the 90’s up to the early 00’s, something that we hadn’t seen in a while as the majority of sales was mainly focusing on modern tonnage up until recently. It is mainly ships of 40,000dwt and above that are enjoying this renewed interest for older tonnage and as a result the values of these vessels have also firmed despite the fact that scrap prices offered today are $20/ldt lower than what they were a few weeks ago.
To put things in perspective, a 2000 built Handymax with SS/DD passed was sold at around USD2.9m sometime in the beginning of March and a similar ship today could easily fetch USD3.5m or more, which translates to a 21% increase. Another positive sign that comes to reinforce this reserved optimism of late is that during the past few months the number of ships sold for scrap has been particularly firm while at the same time newbuilding activity remains almost non-existent. Despite the fact that earnings have still a long way to go before reaching levels at which owners can feel less challenged, the reality is that all the developments above are displaying clearly that the market is moving towards more balanced fundamentals as the size of the size fleet is slowly getting “under control”. Given of course that global growth and consequently trade growth still face numerous challenges, it is imperative that we see more scrapping activity for longer before things balance out.
Let’s hope that the reserved optimism in the dry bulk market is not exaggerated and that the market manages to move to healthier and more viable levels sooner rather than later.
By George Iliopoulos
SnP Broker
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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Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
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