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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, 05 January 17
CAPE MARKET HAVE KEPT SURPRISINGLY FIRM AND ACTIVE DURING THE CHRISTMAS AND NEW YEAR HOLIDAYS - FEARNLEYS
Supramax
The first week after a slow Christmas break has started off with little activity and softening rates. Not surprisingly, the market is fi ...
Thursday, 05 January 17
COMPARISON OF HONG KONG AND LONDON ARBITRATION - SKULD
KNOWLEDGE TO ELEVATE
Whilst London arbitration is the most popular platform for resolution of charterparty disputes, where the parties involved a ...
Wednesday, 04 January 17
INDONESIA'S COAL PRODUCTION IS ESTIMATED TO REACH 434 MILLION TONS IN 2016 EXCEEDED THE GOVERNMENT'S INITIAL TARGET
Indonesia's coal production is estimated to reach 434 million tons in 2016 exceeded the government's initial target. The Ministry of Energy ...
Tuesday, 03 January 17
BENGKULU TO IMPOSE TOUGHER REGULATION FOR UNPROCESSED COAL AND MINERALS EXPORTS IN 2017 - MEDIA
Bengkulu provincial government is planning to impose tougher regulation for export of coal and mineral in 2017. According to liputan6 online portal ...
Monday, 02 January 17
PORT OF NEWCASTLE SHIPPED 13.62 MMT OF COAL IN NOVEMBER; UP 4.18% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,201 Mil ...
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- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
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