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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, 18 October 16
PANAMAX: A FAIRLY POSITIVE END TO THE WEEK - ALLIED
Capesize
Things seemed to be moving sideways during the first half of the week, with resistance being felt as owners tried to resist any further ...
Monday, 17 October 16
THE FREIGHT MARKET WAS SOFTENED IN ALL SEGMENTS THIS PAST WEEK - VISTAAR
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 14 October 16
SUPRAMAXES: DELIVERY SINGAPORE ARE SETTLING AROUND HIGH 6K'S FOR COAL TRIPS TO CHINA VIA INDO - FEARNLEY
Supramax
Wait and see attitude prevailing all over the market.
There have been several fresh cargoes, which have been efficiently covered by ...
Friday, 14 October 16
U.S. SHIPPED 3.3 MMST COAL IN JULY 2016; DECLINE 40% M/M
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.6 million short ton ...
Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
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- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Australian Coal Association
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
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