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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, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
Tuesday, 18 October 16
COAL PRICES KEPT CLIMBING
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 ...
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- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
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