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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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Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
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Showing 2311 to 2315 news of total 6871 |
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- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Planning Commission, India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
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