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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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Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
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- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Marubeni Corporation - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
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