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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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Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
Monday, 09 January 17
FFA SUPRAMAX: Q1 AND Q2 TRADING UP TO $7100 WHILE CAL17 PRINTED $7250 - FIS
Capesize
Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appea ...
Monday, 09 January 17
COAL MARKETS WERE UNEXPECTEDLY ONE OF THE STRONGEST PERFORMERS OF 2016 - SGX
COALspot.com: Coal markets were unexpectedly one of the strongest performers of 2016, with domestic production restrictions in China as well as sup ...
Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
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- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
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