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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Australian Coal Association
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- The University of Queensland
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
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