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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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Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
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- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Planning Commission, India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
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