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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, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
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, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
Thursday, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
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- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
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