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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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- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
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