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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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Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
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- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- The University of Queensland
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
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