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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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Monday, 09 January 17
FFA SUPRAMAX: Q1 AND Q2 TRADING UP TO $7100 WHILE CAL17 PRINTED $7250 - FIS
Capesize
Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appea ...
Monday, 09 January 17
COAL MARKETS WERE UNEXPECTEDLY ONE OF THE STRONGEST PERFORMERS OF 2016 - SGX
COALspot.com: Coal markets were unexpectedly one of the strongest performers of 2016, with domestic production restrictions in China as well as sup ...
Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze ...
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- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Planning Commission, India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
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