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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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Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
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- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
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