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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, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
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