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