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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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Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
Tuesday, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
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- Minerals Council of Australia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
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