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