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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, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
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