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Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
 Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners investing in the dry bulk market have been particularly busy lately, there is limited interest in the second-hand tanker market, activity in which is about 68% compared to the first quarter of 2016.
‘Sluggishness’ is therefore the defining characteristic used to describe the situation in the tanker SnP market, while in the freight market, rates maintain healthy, well above OPEX levels, but not high enough to inspire overwhelming positive expectations. This trend has resulted in decreasing asset prices and may well be the window of opportunity for owners wishing to invest in vessels priced at fairly reasonable levels.
Looking into the MR segment, the table below gives a breakdown of values for different asset classes since 2012.
The last done “MARE ACTION” (30,058dwt-blt 05, S. Korea), which was sold for a price close to $10.0m together with the small 15-yr old MR2, basis SS/DD due, which can be fixed close to $8.0m, are indicative of the particularly attractive prices currently prevailing in the sector.
Despite those rather attractive prices in the tanker market though, it is SnP activity in the dry bulk sector that has been monopolizing everyone’s interest lately. However, after consecutive weeks of increasing asset prices and with more than 200 dry bulk SnP deals - ranging from Handies to Capes – at the closing of Q1, there are a few voices now in the market insisting that this rally will gradually show signs of cracking and exhaustion.
The above estimation is based on a couple of things. On one hand potential buyers have gradually started to lose interest in paying todays’ increased levels, thinking this momentum might ease at some point and push prices – even slightly – down.
On the other hand, Sellers seem to be the one in control at the moment, able to set the premium over the last done and consequently asking for significantly higher prices even a few days after the last reported deal. The above market dynamics create a gap in the second hand market that is capable of restricting second hand activity until market perception becomes more accurate with both buyers and sellers re-adopting a more realistic attitude.
To summarize, while the dry bulk and tanker markets may be at different stages of their respective cycles, they both certainly display interest for different reasons nonetheless.
By Nasos Soulakis
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 18 May 17
SOUTHEAST ASIA CAN ACCELERATE ACHIEVEMENT OF PARIS AGREEMENT GOALS - WCA
Low emissions coal in Asia reduces more CO2 emissions than renewable investment in Western Europe.
Investing in low emissions coal plants in S ...
Wednesday, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
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Showing 2046 to 2050 news of total 6871 |
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- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
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