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Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
 Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic basin rates, with a number of owners benefitting from that incident that resulted in firmer rates. However after the restoration of the damage, rates started to soften and steadily returned to before spike levels.
As far as the tanker SnP market is concerned though spikes and mini-booms have yet to be witnessed, as existing asset values have reinforced uncertainty among those who are contemplating to sell as well as perspective Buyers looking invest in preferably lower prices than those quoted at the moment. Hence, Buyers of in sizes and types are limited at the moment, moving mostly speculatively, and Sellers keep testing the SnP market to better assess the value of their respective vessels and eventually sell on a private basis, while newbuilding activity has seen a small increase lately as well.
On the other hand, dry bulk newbuilding activity remains almost non-existent, which is certainly not bad for the market that has been long suffering from oversupply, a problem that could finally get under control sometime towards the end of next year, a time by which most of the order book is scheduled for delivery. This expectations together with the much healthier rates the dry bulk market is witnessing now compared to six months back, has boosted SnP activity in the sector despite the fact that current earnings might not be justifying present asset values.
The recent steadying of Capesize rates has lured investments by a number of owners least expected to trade this size. The volatility Capesize prices have been historically displayed has rewarded again during the last bottoming of prices those ready to assume the risk of such an investment. Indicatively, Stealth Gas bought 2 Capes in Q1 (built in 2006 and 2008 respectively) for a total price of USD 23.5m and sold them in Q3 for USD 29.0m.
Supramax vessels are also enjoying a 50% increase on average since the first quarter of the year on the back of strong buying interest from the Far East and the Indian sub-Continent. More specifically, 15-yr old Supramax are experiencing a biggest asset appreciation compared to 5-yr and 10-yr old candidates, while Panamaxes are witnessing a much more modest increase, calculated at around 15% for 10-yr old vessels and 25% for 5-yr old ones.
Potential Buyers have also been displaying a lot of interest lately for Handysize vessels and more specifically in 5-yr old Chinese tonnage, which is currently being offered at around USD 6.0m, while as far as Japanese tonnage is concerned, the group of owners interested in investing here is much smaller and rather specific.
We do believe this firm SnP activity in bulkers to resume at least until the end of the year and an even healthier freight market should reinforce this momentum. But irrespective if earnings manage to move much higher before the end of the year, the fact that dry bulk rates seem to be resisting to wild volatility for quite some time now has helped sentiment to shift a lot since the dark days of last spring and we all know what an important role sentiment and positive psychology play even in a exceptionally demand/supply fundamentals driven industry like shipping.
By Giannis Andritsopoulos
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, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
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- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
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