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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, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
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Showing 2041 to 2045 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
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