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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, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY CONTINUES
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 ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
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- GMR Energy Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Australian Coal Association
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
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