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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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Wednesday, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
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Showing 2081 to 2085 news of total 6871 |
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- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Parliament of New Zealand
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Wilmar Investment Holdings
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