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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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Wednesday, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
Wednesday, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
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Showing 1851 to 1855 news of total 6871 |
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- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- The University of Queensland
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
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