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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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- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
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