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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, 14 June 17
WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
COALspot.com: The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as ...
Wednesday, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years ol ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
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Showing 2026 to 2030 news of total 6871 |
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- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Parliament of New Zealand
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
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