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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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Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
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- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
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