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