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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, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
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- Minerals Council of Australia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
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