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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, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Australian Coal Association
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
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