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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.
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Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
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- Interocean Group of Companies - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
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