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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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Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
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- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
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