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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, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
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Showing 1856 to 1860 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- PTC India Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
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