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