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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, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
...
Thursday, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
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- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
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