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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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Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
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- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- The University of Queensland
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
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