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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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