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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, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
Monday, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
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Showing 2316 to 2320 news of total 6871 |
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- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
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