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