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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.
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Wednesday, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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Showing 2021 to 2025 news of total 6871 |
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- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
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