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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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Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
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Showing 2416 to 2420 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Eastern Energy - Thailand
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
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