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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, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
...
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- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- The University of Queensland
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
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