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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
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
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