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