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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, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- White Energy Company Limited
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
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