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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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- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
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