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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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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- The University of Queensland
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
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