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Wednesday, 21 June 17
MARKET INSIGHT - SHIPPING
 Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating that this long awaited improvement was on the back of steadily improving fundamentals and that going forward the extensive volatility of the previous years would most probably wane.
They would also argue that following the very few newbuilding orders and deliveries together with the extensive scrapping that took place last year, the market was also finding support on the increase of commodity prices such as that of iron ore which from the low $US40/t at the end of 2015 reached a high of $US80/t in March 2017.
Having all the above in mind and with the exception of very few people that were reservedly optimistic, expectations for the rest of 2017 and for 2018 were ranging from positive to very bullish especially since the BDI managed to surpass 1,300 points at the end of March, when in the middle of February the index was at 600 points.
The substantial increase in earnings, very quickly fed through to asset values as well, igniting buying interest and ultimately sending prices in the second-hand market way up. A representative example is a 2001 built Panamax that invited inspections with price ideas at low $5.0m and was finally sold in mid-March at $6.7m, while if the seller was not so keen to sell the sale price would have easily been even more expensive. The aggressiveness of Buyers was even more evident on modern vessels, with high competition among those inspecting sending prices through the roof.
Looking at today’s market though, it appears that the advance of the market might have not been based on improving fundamentals after all. Indeed, during the past weeks the market has corrected downwards across all sizes and the BDI has settled in the mid-800 points for quite a while now. Despite the correction in earnings though and the subsequent drop in buying interest, second-hand prices have not dropped significantly and are still way above January levels.
The performance of the freight market during the summer season is obviously going to shape the fate of the second-hand market and more specifically the course of asset prices. We are already witnessing a number of vessels being withdrawn from the market, which means that most owners do not want to offer their vessels amidst the current softening environment which will, more probable than not, get them substantially lower offers compared to their ideas. The fact that these potential Sellers are now moving back to the sidelines is definitely going to offer second-hand prices some support, given of course that the BDI will stop dropping.
Therefore we will have to wait and see the direction in which freight rates and dry bulk indices will move during the span of the next weeks in order to better assess where second-hand values are going next as this rather uncertain market always creates second thoughts to potential investors.
By George Iliopoulos
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, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
Wednesday, 14 June 17
WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
COALspot.com: The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as ...
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Showing 2021 to 2025 news of total 6871 |
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- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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