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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, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
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- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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