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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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Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
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