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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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Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
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- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- The University of Queensland
- Agrawal Coal Company - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
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