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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, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
Tuesday, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
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Showing 1861 to 1865 news of total 6871 |
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- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
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