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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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Tuesday, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
Tuesday, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
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Showing 1891 to 1895 news of total 6871 |
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- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
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