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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, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
Tuesday, 18 October 16
COAL PRICES KEPT CLIMBING
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
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- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Parry Sugars Refinery, India
- White Energy Company Limited
- Australian Coal Association
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
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