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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, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
Wednesday, 29 November 17
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
In line with most expectations for the end of this month, during the past days the Dry Bulk market realized a significant rebound that sent the BDI ...
Tuesday, 28 November 17
THE DRY BULK MARKET HAS SHOWN A REMARKABLE RECOVERY THIS YEAR - GEORGE LAZARIDIS
The Dry Bulk market has shown a remarkable recovery this year with the average earnings having increased by around 63% this year so far compared to ...
Friday, 24 November 17
U.S. PRODUCED 14.9 MMST FOR THE WEEK ENDING NOV 18; UP 0.9% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 23 November 17
PANAMAX: ANOTHER SLOW AND UNEVENTFUL WEEK; DECREASING FREIGHT RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
A quiet start to the week. USG closed last week a bit tighter, and continued into the new week on a positive tone with little concluded, ...
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Showing 1866 to 1870 news of total 6871 |
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- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- GMR Energy Limited - India
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