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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, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
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- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- The University of Queensland
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Planning Commission, India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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