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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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Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
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- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Posco Energy - South Korea
- The University of Queensland
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
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