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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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Tuesday, 18 October 16
PANAMAX: A FAIRLY POSITIVE END TO THE WEEK - ALLIED
Capesize
Things seemed to be moving sideways during the first half of the week, with resistance being felt as owners tried to resist any further ...
Monday, 17 October 16
THE FREIGHT MARKET WAS SOFTENED IN ALL SEGMENTS THIS PAST WEEK - VISTAAR
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 14 October 16
SUPRAMAXES: DELIVERY SINGAPORE ARE SETTLING AROUND HIGH 6K'S FOR COAL TRIPS TO CHINA VIA INDO - FEARNLEY
Supramax
Wait and see attitude prevailing all over the market.
There have been several fresh cargoes, which have been efficiently covered by ...
Friday, 14 October 16
U.S. SHIPPED 3.3 MMST COAL IN JULY 2016; DECLINE 40% M/M
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.6 million short ton ...
Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
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- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- PTC India Limited - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
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