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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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Friday, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
Wednesday, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
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Showing 1886 to 1890 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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