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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, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major facto ...
Tuesday, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
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Showing 1881 to 1885 news of total 6871 |
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- Central Electricity Authority - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- The University of Queensland
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
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