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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, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
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- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
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