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