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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, 22 November 17
THERMAL COAL WAS FLAT AMID CONCERNS OF FURTHER GOVERNMENT INTERVENTION IN CHINA, SAYS DANIEL HYNES
Coal prices were mixed. Thermal coal was flat amid concerns of further government intervention in China, said Daniel Hynes Senior Commodity Strateg ...
Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
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Showing 1871 to 1875 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- The University of Queensland
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
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