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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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Friday, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
Friday, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - 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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- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Planning Commission, India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
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