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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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Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
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