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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, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Wednesday, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
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- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
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