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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, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
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Showing 2086 to 2090 news of total 6871 |
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- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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