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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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Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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Showing 2076 to 2080 news of total 6871 |
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- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Minerals Council of Australia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
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