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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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Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
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- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
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