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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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Monday, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
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Showing 2216 to 2220 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
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