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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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Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
Thursday, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
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Showing 1836 to 1840 news of total 6871 |
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- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Posco Energy - South Korea
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
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