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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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Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
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Showing 1896 to 1900 news of total 6871 |
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- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- The University of Queensland
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Planning Commission, India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
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