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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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Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
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- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
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