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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, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
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