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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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Thursday, 16 November 17
KOMIPO INVITED BIDS FOR 3.9 MILLION TONS OF 5700 NAR AND 5400 NAR COAL FOR 2018 - 2020 DELIVERY
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 3,900,000 Metric Tons of min. 570 ...
Thursday, 16 November 17
THE PORT OF NEWCASTLE HAS SHIPPED 14.94 PERCENT LESS COAL IN OCTOBER 2017, DATA SHOWS
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,466.8 ...
Thursday, 16 November 17
GOVERNMENT, 13 COAL MINERS AGREE TO CHANGE CONTRACTS - JP
The government and 13 coal mining companies have agreed to change the old Contract of Work (CoW), as part of the implementation of Law No. 4/20199 ...
Wednesday, 15 November 17
IEA RECOGNISES COAL'S CONTINUOUS IMPORTANCE TO GLOBAL ENERGY NEEDS - WCA
The World Coal Association (WCA) has welcomed the International Energy Agency’s (IEA) recognition that coal will continue to play a vital rol ...
Wednesday, 15 November 17
THERMAL COAL WAS DRAGGED DOWN BY THE WEAKNESS ACROSS THE WIDER ENERGY SECTOR - DANIEL HYNES
The coal market was mixed.
Thermal coal was dragged down by the weakness across the wider energy sector, said Daniel Hynes Senior Commodi ...
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Showing 1876 to 1880 news of total 6871 |
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- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
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