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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, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
Friday, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
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Showing 1901 to 1905 news of total 6871 |
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- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
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