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