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