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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, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
Friday, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - 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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- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
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