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