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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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Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
Thursday, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
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Showing 1846 to 1850 news of total 6871 |
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- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
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