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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, 02 January 17
PORT OF NEWCASTLE SHIPPED 13.62 MMT OF COAL IN NOVEMBER; UP 4.18% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,201 Mil ...
Friday, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
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- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
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