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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, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
...
Thursday, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
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- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- The University of Queensland
- Australian Coal Association
- Independent Power Producers Association of India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
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