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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
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