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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, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
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- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Economic Council, Georgia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
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