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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, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
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- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
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