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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, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
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- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Wilmar Investment Holdings
- PTC India Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
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