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Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
 During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a number of Greek buyers showing intense interest in 15-year old Supramax and Panamax vessels, which led values in some cases to appreciate even more than 50% in the time span of seven to eight months. Indeed the quick reversal in second hand prices showed its first signs in the very beginning of the year, when a sudden psychology boost post New Year’s on the back of an improving freight market pushed the price of 2005 built Panamax from USD 7.3m at the end of February to around USD 10.0m about two weeks later on.
The momentum in second-hand prices was so strong that throughout the downward correction of freight rates during the second quarter, asset values moved downwards a bit but resisted very well nonetheless. The number of transactions that took place during this time was evidently smaller, as Sellers didn’t seem ready to give in the pressure and some had to withdraw their vessels waiting for a positive correction of the market. A representative example during the past weeks is that of the Panamax bulkers M/V ‘BULK MONACO’ (76,596dwt-blt 08, Japan) and the M/V ‘UNICORN OCEAN’ (78,888dwt-blt 08, Japan), the owners of which were unsatisfied with the offers they received and decided not to sell.
The Capesize market also witnessed a similar trend following the sale of the M/V ‘YURITAMOU’ (180,184dwt-blt 07, Japan) at USD 23.4m in May. The M/V ‘IVS CABERNET’ (177,173dwt-blt 07, Japan) that came up as a sale candidate following the former sale, saw very limited buying interest and the highest offered it received was in the mid USD 16.0m, which led to its withdrawal from the market.
As far as Supramax vessels are concerned, we could say that Chinese candidates are currently the most tempting deals. Indeed, 10-yr old Chinese Supras are now sold at less than USD 9.0m, while a few days ago a Japanese Supra built in 2003 was sold at USD 8.0m.
With the increased asset values on the dry bulker side, many ship owners with diversified fleets have also focused on the tanker market and in some cases on containers as well. The MR segment has witnessed increased SnP interest during the past months, with traditional tanker owners opting for 15-yr old vessels, as prices in that particular class were seen relatively more attractive. Despite this revived investing in the segment though, the pressure on behalf of perspective Buyers is still present, with the market showing a lack of direction at the moment. There are currently some “private” units marketed, belonging to Sellers who appear willing to only sell at levels in line with the market.
Looking at the Aframax/LR2 segment, Sellers here are slightly more confident, as Buyers, in this case, appear more determined to approach their ideas. With regards to the newbuilding market, despite the increased order book in the bigger tanker sizes, there is still a very healthy number of orders being reported pretty much on a weekly basis, with notable interest in S. Korean MRs and Aframaxes/LR2s. Whether this trend will resume throughout the remainder of the year is early to tell, although we won’t be surprised if that proves to be the case given what we have seen during the first half.
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, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
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Showing 1826 to 1830 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Planning Commission, India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
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