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Wednesday, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
 With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in 2017, it is no wonder that momentum in the Dry Bulk market has become particularly strong, pushing second-hand and lately newbuilding prices as well to higher levels.
The speed in which second hand prices have been firming is indeed impressive across all dry bulk sizes but particularly Panamaxes and Capes, where the average monthly price for a 5-yr old vessel has increased more than 19% and 20% respectively within just one month. A very representative example of this jaw dropping increase is the sale of the Panamax ‘RED GARDENIA’ (76,294dwt-blt 05, Japan), which was sold at the end of February at $7.3m and the sale of the Panamax ‘ALESSANDRO VOLTA (76,806dwt-blt 05, Japan, sold at $10.0m last month.
This strong upward movement in second-hand prices has undoubtedly brought euphoria among owners and has given extra incentive to invest to those who have been feeling a bit insecure to do so, due to this very speedy increase in prices that has brought back memories of past asset bubbles. Saying that, there is a number of medium sized shipowners who have already moved back to the sidelines and there is a good chance to see these owners return to the second-hand market in the near future to invest in the tanker or the container market, where prices have been less strong and could probably offer achieve a bigger premium down the line compared to dry bulkers.
At the same time, collaborations between private equity funds and shipowners have been intensifying again, as the former seem to once more be intrigued by this recent positive reversal in the freight market. So if you wonder “Where did this guy find the money to buy?” the answer is most probably that a fund has provided debt or equity.
This is also the case in regards to newbuilding investments, which started to pop up here and there during the past month. Indeed, as sale candidates have decreased and in addition to the fact that prices of modern second-hand tonnage have started to close the gap with the respective newbuilding price, has caused a spike in newbuilding enquiries by a big number of owners, a substantial part of which has already translated in either firm orders or discussions in the LOI stage.
On the Tanker side things have been less rosy as far as asset prices and SnP activity is concerned. The softening trend in the freight market during the past year has pushed second-hand tanker prices down during the past months but it seems that these cheaper prices have not inspired strong SnP activity.
Indeed potential Buyers were waiting for even lower ideas on behalf of Sellers, with the former seeing no major reason to offer greater discounts on their vessels amidst a freight market that hasn’t been bad. Saying that, we have been lately noticing a few big names starting to invest in the tanker sector once again, fact which might eventually help towards steadier and possibly higher values ahead…after all opportunity is in the eye of the beholder.
By Giannis Andritsopoulos
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, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
Tuesday, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
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Showing 2001 to 2005 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- The University of Queensland
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
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