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